BBVA is studying a possible merger with Banco Sabadell and has hired advisors to analyze the operation, as reported by the bank in a statement sent to the National Securities Market Commission (CNMV).
“In relation to the news that appeared in the press today, BBVA confirms that it has conveyed to the president of the Board of Directors of Banco de Sabadell the interest of the Board of Directors of BBVA in starting negotiations to explore a possible merger between both entities. BBVA confirms that has appointed advisors for this purpose,” he informed the CNMV.
After confirming this possible operation, Sabadell shares rose 6.7%, while BBVA’s shares fell 5.78%.
More information soon.
