Spanish banks say adios to merger talks
Banco Bilbao Vizcaya Argentaria (BBVA) and Banco de Sabadell have ended potential merger talks without having reached a deal.
“Banco Sabadell informs that the board of directors has decided to terminate the above mentioned discussions, because the parties have not achieved an agreement on the exchange ratio of both entities,” Sabadell said in a statement.
Earlier this month the two banks announced merger talks aimed at creating Spain’s second-biggest domestic bank with almost 600 billion euros in assets.
But two days later, BBVA chief executive Onur Genc had said he was in no rush, and that the bank would analyse everything carefully and also had other options.