BBVA: confirms merger talks with Sabadell
(CercleFinance.com) - BBVA said late on Monday that it is maintaining merger talks with its rival Banco de Sabadell.
In a regulatory filing, the Spanish banks said they have initiated a reciprocal due diligence review process and have appointed external advisors.
However, BBVA said that no decision has been taken relating to a potential merger and that there is no certainty as to whether any such deal will arise.
The group said it intends to make no further comment regarding the merger discussions and that it will provide information "in due time."
The BBVA shares were down 4% on the Madrid Stock Exchange in morning trading on Tuesday. They previously jumped over 15% yesterday on the surprise sale of its US unit.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
In a regulatory filing, the Spanish banks said they have initiated a reciprocal due diligence review process and have appointed external advisors.
However, BBVA said that no decision has been taken relating to a potential merger and that there is no certainty as to whether any such deal will arise.
The group said it intends to make no further comment regarding the merger discussions and that it will provide information "in due time."
The BBVA shares were down 4% on the Madrid Stock Exchange in morning trading on Tuesday. They previously jumped over 15% yesterday on the surprise sale of its US unit.
Copyright (c) 2020 CercleFinance.com. All rights reserved.