Spanish banking giant BBVA said on Friday its tender offer for smaller national rival Sabadell would start on Monday after its hostile bid received the stock market regulator's green light.

The proposed deal aims to create a European banking powerhouse capable of competing with industry heavyweights such as Santander, BNP Paribas and HSBC.

BBVA, Spain's second-largest bank with a big footprint in Latin America and Turkey, announced its all-share bid in May 2024, valuing Sabadell at around 15 billion euros ($18 billion).

The CNMV stock market regulator ruled that BBVA will have 30 days, beginning on September 8, to get enough Sabadell shareholders to accept the proposal.

"The offer is conditional on the acceptance of a minimum number of shares representing more than half of the voting r

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