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Takeover Talks Between BBVA, Sabadell Collapse in Disagreement Over Price

  • BBVA said previously it may do buybacks as alternative to deal
  • Sabadell to focus on efficiency and organic capital generation
Banco de Sabadell SA & BBVA SA Branches As Banks Mull Potential Tie-up
Photographer: Angel Garcia/Bloomberg
Updated on

Banco Bilbao Vizcaya Argentaria SA and Banco de Sabadell SA ended short-lived takeover talks in a disagreement over the price, setting back consolidation in a banking market hit hard by the Covid-19 pandemic.

Discussions about a purchase of Sabadell by BBVA to create the second-largest domestic lender in Spain collapsed after the two sides couldn’t agree on the exchange ratio, Sabadell said in a statement Friday. BBVA confirmed the end of the talks in a separate filing.