It would be the second official negotiation attempt since 2020. The group resulting from the merger would reach a market value of 73 billion euros, close behind Banco Santander.
BBVA confirmed on Tuesday that it was up to the president of Banco de Sabadell, Josep Oliu, to confirm the group’s interest in start new negotiations to investigate the possibility of one merger between both entitiesas reported to the National Securities Market Commission (CNMV).
It would be the second official attempt after BBVA and Sabadell acknowledged in November 2020 that they had been negotiating a merger for months, although two weeks after revealing the contacts, the two entities announced that talks had broken off.
BBVA preferred not to provide an explanation, but Sabadell then publicly announced that the operation had not gone ahead because no agreement had been reached on the final exchange ratio of the shares, that is, the price of the operation.
Then the Bank Sabadell has been informed of this to the supervisor who received it an offer BBVA’s indication for a merger. “The board of directors of Banco Sabadell will adequately analyze all aspects of the proposal,” the bank chaired by Josep Oliu said.
After confirmation of this possible operation, Sabadell shares rose approximately 7.5%, while BBVA shares fell 7.5%.
In terms of market capitalization, the group resulting from this merger would reach value on the 73 billion euro marketaccording to the current price of both entities, close behind Banco Santander, which barely exceeds 74,000 million euros, and is almost double what CaixaBank capitalizes (37,500 million).
Source: EITB
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