Podcast Summary: Hoy por Hoy — El Abierto | El BBVA fracasa en su OPA al Sabadell y la libertad de Koldo y Ábalos

Date: October 17, 2025
Host: Ángel Berna González Harbur (Cadena SER)
Panelists: Estefanía Molina, Berna González Harbur, Javier Aroca
Notable Guests: Salvador Illa (President, Generalitat de Cataluña), Jordi Fabre (Chief Economist, SER)
Location: Casa de Cultura, Aranda de Duero

Overview

This episode of "El Abierto" delves into two major current affairs in Spain:

1. The resounding failure of BBVA’s hostile takeover bid (OPA) on Banco Sabadell, a business and political event of nationwide significance.
2. Analysis and debate over the release of Koldo García (former advisor to ex-Minister José Luis Ábalos) and Ábalos himself from pretrial detention, in connection to a major corruption scandal, and the political/moral ramifications surrounding their actions.

Breakdown by Topics

1. The BBVA Takeover Bid on Sabadell: “Un Fracaso en Toda Regla”

[Analysis and Context]

• Host (Ángel Berna González Harbur) sets the stage — discussing the unique media and political attention this banking operation has received ([02:26-03:06], [06:39]).
• Jordi Fabre (Chief Economist) summarizes the outcome:
  • BBVA obtained only 25.5% of Sabadell’s shares, far from the 50% threshold for a successful takeover ([03:13]).
  • The operation lost credibility over weeks due to confusion and uncertainty of a potential second bid.
  • Institutional and private investors weren’t swayed despite aggressive campaigns.
  • “No olvidemos que hasta el viernes pasado la entidad decía tanto en público como en privado que iba a superar ampliamente el 50%.” ([03:20])
• Impact and Consequences:
  • The attempt marks BBVA’s second failed approach in recent years ([04:57]).
  • President Carlos Torres will remain in position for now and is expected to explain the path forward.
  • The stock market reacts immediately: BBVA shares surge by nearly 7% in New York, while Sabadell stock drops by 6% ([37:52]).
  • Sabadell considers itself reinforced, though it emerges smaller after selling its UK subsidiary to Santander.

[Political Reaction: Salvador Illa Interview]

• Salvador Illa (President, Generalitat de Cataluña):
  • Expresses satisfaction with the outcome; emphasizes the preservation of two distinct financial entities ([06:53], [07:44]).
  • “El Sabadell es un banco muy arraigado, no sólo en Cataluña, yo creo que en todo el Levante español ... dirigido a la pequeña y mediana empresa...” ([07:44])
  • The hostile nature of the OPA is highlighted as a determining factor. The government’s role: “preservar el interés general” ([09:51]).
  • Emotional attachment and the “especificidad del sistema financiero” of Catalonia heavily influenced shareholders ([09:13]).

[Panel Commentary & Broader Implications]

• Javier Aroca:
  • Praises “banca territorializada,” noting envy for such protection in other regions like Andalucía ([13:03]).
  • Critiques the past narrative that territorial savings banks (cajas) were incompatible with Europe, using Germany’s model as counter-example ([19:41]).
  • “Hoy me alegro de que cambie el paradigma … que haya instituciones financieras ... con dimensión social.” ([20:07])
• Berna González Harbur:
  • Applauds Illa’s cautious leadership style, tying Sabadell’s success to political stability post-“procés” ([15:35]).
  • Highlights negative social effects from banking concentration: fewer branches, less access, especially hurting seniors and small towns. “Cada fusión ha demostrado que supone menos servicios para los ciudadanos, menos oficinas, menos atención.” ([15:35])
• Estefanía Molina:
  • Frames the Sabadell outcome as a “espaldarazo enorme” for Illa and a symbol of renewed economic confidence in Catalonia ([17:27]).
  • Emphasizes local decision-making power (“las decisiones se toman aquí”) and the wider political context of regional empowerment.
  • Notes that even in the EU, further bank concentration is viewed skeptically ([17:27]).

[Memorable Moments & Quotes]

• “Hay emociones … no estrictamente económicas … que también han tenido un peso.” — S. Illa ([09:13])
• “Lo que ha pasado es un espaldarazo al proyecto … pero [el Sabadell] también termina con menos músculo.” — J. Fabre ([04:57])
• “Me gustaría que el Sabadell se convirtiera en una especie de símbolo de la banca periférica.” — J. Aroca ([13:03])
• “En las ciudades a veces tienes que caminar para encontrar un cajero … en muchos pueblos no hay ni gente para que te preste el dinero.” — J. Aroca ([21:10])

2. Libertad para Koldo y Ábalos: Debate Penal, Político y Moral

[Summary of the Case]

• Isabel Vega outlines judicial developments:
  • Koldo García and José Luis Ábalos remain out of pretrial detention—no risk of flight or evidence destruction as per the judge ([25:25], [27:05]).
  • In contrast, Santos Cerdán stays in prison, reflecting his more central alleged role in the corruption web ([25:38]).
  • Both Koldo and Ábalos refused to answer investigators’ questions, complicating the process ([27:12]).
• Key Judicial Principle:
  • Preventive prison applies only if there’s risk of re-offending, flight, or destruction of evidence ([30:19]).
  • Possession of a seat (“el acta de diputado”) is personal and can’t be removed without conviction (reference to the Alberto Rodríguez precedent) ([32:38], [45:00]).

[Political & Moral Ramifications: Panel Debate]

• Berna González Harbur:
  • Frames the investigative pyramid—Cerdán as ringleader.
    “Lo que muestra de momento es la foto piramidal … quien parece que mandaba era Cerdán.” ([28:54])
  • Harshly critiques the “depraved” lifestyles revealed (“depravada, dejarme decirlo así de Ábalos”), but concedes only proof of criminal use of funds matters for jail ([28:54], [35:36]).
• Estefanía Molina:
  • Emphasizes difference between criminal prosecution and political/moral outrage; “la justicia se rige no por una especie de populismo tertuliano ... sino por unos criterios sólidos.” ([30:19])
  • Notes the blow to PSOE’s feminist credentials; “Ya está haciendo daño en el voto femenino”. ([43:51])
  • Reminds that the law treats an elected seat as personal—a point often misunderstood in popular debate ([32:38], [46:29]).
• Javier Aroca:
  • Urges legal caution—no one is guilty without due process. “Nadie es culpable en este país hasta que no se demuestre lo contrario.” ([41:45])
  • Clarifies that repugnant personal conduct, even flaunted, is not in itself a criminal act. “Irse de putas no es un delito ... Si el dinero no era suyo es un delito, pero si el dinero es suyo y se lo gasta en lo que le dé la gana, no es un delito.” ([35:49])
  • Stresses: “Los informes de la UCO no son definitivos,” only courts decide ([39:07])

[Gender Debate and On-Air Tension]

• Clash Over Language and Morality:
  • Berna voices intense repulsion at Ábalos/Coldo’s misogynistic language and objectification of women—even if not criminal, “hay cosas peores que ser delito. Y es tratar a las mujeres así.” ([39:07])
  • Heated exchange about on-air etiquette and the line between legal and moral judgment leads to host intervention and mutual apologies ([47:05–51:02]).
• Estefanía Molina notes the overlap of personal, penal, and political spheres:
  • “No sólo es el terreno de la moral ... si el PSOE saca adelante leyes sobre abolicionismo … Ábalos tendrá que votar sobre eso.” ([52:58])

3. Additional Highlights

[International News]

• Update on Ukraine:
  • Donald Trump to meet Zelensky, but after a call with Putin has cooled Biden-era support for long-range missiles to Kiev ([60:19]).
  • Analysts describe the frontline situation and role of weapons; Carmen Claudín: “La situación de resistencia de los ucranianos no es tan mala … la población está totalmente motivada.” ([61:27])

[Upcoming Political Events]

• Pedro Sánchez’s Senate Appearance:
  • Criticism from Socialists over PP’s timing of Sánchez's session—seen as a distraction; the real political drama is the public’s perception post-DANA tragedy ([56:44]).
  • Families of DANA victims don't want the Valencia president at remembrance ceremonies, pointing to deeper political wounds ([59:19]).

Selected Timestamps for Key Sections

| Segment | Timestamp | |----------------------------------------|:--------------:| | BBVA OPA Results & Economic Analysis | 03:06–06:39 | | Salvador Illa Interview | 06:48–11:55 | | Panel on Banking Territoriality | 13:03–22:39 | | Market Reaction | 37:52–38:55 | | Legalities of Koldo/Ábalos Case | 25:24–27:52 | | Panel Dispute about Morality & Law | 39:07–51:40 | | Gender & Political Ramifications | 52:58–53:52 | | Ukraine Situation | 60:19–62:03 |

Tone and Notable Moments

• Lively, opinionated, sometimes heated debate, especially regarding gender and morality in politics.
• Host mediates to de-escalate conflict, reasserting the space for diverse viewpoints.
• Emphasis throughout on the tension between legality (judicial process, evidence, due process) and political/moral expectations (how politicians should act, respect for women in power).
• Strong regional pride and critique of centralization—especially regarding finance and economic sovereignty.

Concluding Message

The episode ultimately underscores the complex interplay of economics, politics, emotion, and public ethics in Spain’s current affairs. It demonstrates the value—and challenge—of open, sometimes contentious public debate, both for understanding headline events and the undercurrents shaping them.

Notable Quotes

• “Nunca un movimiento bancario … había adquirido la relevancia y el espacio que ha tenido esta OPA.” — Ángel Berna González Harbur ([03:06])
• “Creo que es una buena noticia para Cataluña, también para el conjunto de España.” — Salvador Illa ([08:23])
• “Hoy me alegro de que cambie el paradigma … Pero que cambie de verdad.” — Javier Aroca ([20:07])
• “Hay cosas peores que ser delito. Y es tratar a las mujeres así.” — Berna González Harbur ([39:07])
• “La justicia se rige … por unos criterios sólidos” — Estefanía Molina ([30:19])
• “Nadie es culpable en este país hasta que no se demuestre lo contrario.” — Javier Aroca ([41:45])

For listeners who missed the episode:
This summary captures spirited analysis of a failed banking mega-merger, its political undertones, the regional dimension in Spanish finance, and the potent, unresolved debate on political morality illuminated by a current corruption scandal—rendered in the passionate, conversational tone characteristic of “Hoy por Hoy’s” Abierto.