SANTANDER, Spain, June 18 (Reuters) - The head of Spain's anti-trust watchdog, Cani Fernandez, said on Tuesday that the Spanish government could set additional conditions in its review of the 12.28-billion-euro ($13.16 billion) takeover bid launched by BBVA over its smaller rival Sabadell .

The competition watchdog, which has already started to look into BBVA's bid, could study the case under various scenarios, which could potentially prolong its analysis by several months.

If the process gets reviewed in phase one, it would take one month, or three months in phase two. But even those timelines could be extended as every time additional information is required it resets the review process.

In phase three, the government, which has already said it

opposes the deal

, has an additional two months to potentially include new conditions.

Fernandez told an event in Santander she was not aware of any political pressures regarding the bid. ($1 = 0.9331 euros) (Reporting by Jesús Aguado, editing by Andrei Khalip)