BBVA confirms its interest in a merger with Banco Sabadell By Investing.com

Investing.com – “BBVA (BME:) confirms that it has conveyed to the Chairman of the Board of Directors of Banco de Sabadell SA (BME:) the interest of the Board of Directors of BBVA in starting negotiations to explore a possible merger between both entities. BBVA confirms that it has appointed advisors for this purpose.

With this communication, BBVA confirmed this Tuesday to the National Securities Market Commission (CNMV) the group’s interest in starting new negotiations to explore the possibility of a merger between both entities.

It would be the second official attempt after in November 2020, BBVA and Sabadell acknowledged that they had been negotiating a merger for months, although two weeks after revealing the contacts, the two entities announced the breakdown of the talks, reports EFE.

BBVA preferred not to give explanations, but Sabadell then publicly revealed that the operation had not gone ahead as it had not reached an agreement on the eventual share exchange ratio, that is, the price of the operation.

Thus, BBVA becomes the red lantern at the time of writing this news, collapsing more than 7%, while Sabadell soars another 7%, becoming the value that rises the most on the Spanish selective.

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