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Spain's BBVA and Sabadell scrap merger talks over price disagreement - Business Insider

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Spain's BBVA walks away from merger with Banco Sabadell after confirming tie-up less than two weeks ago

Discussions collapsed after the banks disagreed over the price of the transaction. Sabadell, which has a market cap of 2.3 billion euros ,

to prioritize its domestic business after the two parties failed to reach an agreement on the exchange ratio of their shares. The objectives of its new strategy are expected to be released in the third quarter of 2021. Sabadell was keen on merging with another Spanish bank for months. A tie-up for the two lenders would've been viewed as a crucial round of consolidation at a time when European lenders face financial challenges related to the pandemic-induced economic fallout.

 

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Spanish Lenders BBVA and Sabadell Abandon Merger TalksBanco Bilbao Vizcaya Argentaria, Spain’s second-largest lender by assets, and smaller peer Banco de Sabadell ended their merger talks because of disagreements over pricing, underlining that consolidation in Europe’s banking system remains complicated. horrible Do people know what integrity and honesty mean? I doubt it! 😂
Source: WSJ - 🏆 98. / 63 Read more »