We create and publish training materials and deal with the research of financial and commodity markets and identification of trading opportunities. We create information content in digital electronic form and its subsequent sale. We are not a stockbroker or broker, we are not financial institutions and we are not a financial intermediary.

20/11/27_Merger negotiations between Banco de Sabadell and BBVA are unsuccessfully over

Shares of Banco de Sabadell SA fell 17% today after a Spanish bank said negotiations on a merger with a larger competitor, BBVA SA, were over – unsuccessfully.

 

The agreement would create an entity with a market cap of approximately € 27.5 billion ($ 32.76 billion). Shares of BBVA, which also confirmed the end of merger negotiations, rose by 2%.

 

Sabadell Bank said it would launch a new strategy in favor of its Spanish domestic business instead of merging.

 

“Sabadell is a far smaller bank in terms of size and assets, so the decision to suspend merger negotiations is even more mysterious. The bank saw its net income fall from € 1 billion in 2016 to just € 242 million over nine months and is clearly facing problems, ”said Michael Hewson, CMC Markets’ chief market analyst.

 

Source: MarketWatch.com

Comments

Add comment

Your email address will not be published. Required fields are marked *

Your personal data will only be used for the processing of this comment. Principles of personal data processing