Spain's Sacyr scraps plan to take BBVA stake

Kadoom has it exactly right in their comment (y en Español) of the Sacyr moves with regards to BBVA.

This Board took the market by surprise with their political manouvres and showed complete disdain for keeping the market (and their shareholders) informed about what they were trying to do.

The next annual general meeting requires some resolutions that allows shareholders to remove these Directors and to appoint professional alternatives.

Let us see whether the system in Spain allows this.

OAM