Spain to Add Hurdles to BBVA’s Sabadell Bid, Vanguardia Says

Spain’s government is set to impose additional conditions on BBVA SA’s planned takeover of Banco Sabadell SA, La Vanguardia reported, in a further setback for the €14 billion ($16 billion) deal more than a year after it was first proposed.

The measures will affect credit policies and consumer rights, among other things, the newspaper reported, citing unidentified people familiar with the matter. Conditions will likely also include limits on how many job cuts BBVA can carry out at Sabadell and how much it can centralize decision-making power, La Vanguardia said.