Sabadell Board Ends Talks With BBVA on Potential Merger
November 27 2020 - 1:30AM
Dow Jones News
By Olivia Bugault
Banco de Sabadell SA said Friday that its board of directors has
decided to terminate talks with Banco Bilbao Vizcaya Argentaria SA
over a potential merger.
The board's decision is due to the fact that "the parties have
not achieved an agreement on the exchange ratio of both entities,"
the Spanish bank said.
On Nov. 16, BBVA had announced that it was in discussions with
its Spanish peer and that the pair had started a due-diligence
process and appointed external advisors.
Write to Olivia Bugault at olivia.bugault@wsj.com
(END) Dow Jones Newswires
November 27, 2020 01:15 ET (06:15 GMT)
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