BBVA's Bid for Banco Sabadell Stays Strong Amid TSB Sale

In a significant development in the banking sector, BBVA has confirmed that its takeover bid for Banco Sabadell remains unchanged following Sabadell's decision to sell its British subsidiary, TSB, to Banco Santander. This sale, valued at 34 billion euros, raised questions about the future of Sabadell and its assets, leading to speculation regarding BBVA's intentions. However, in a statement released to the National Securities Market Commission (CNMV), BBVA reassured stakeholders that they are committed to pursuing their acquisition of Banco Sabadell. The dynamics of the banking landscape are evolving, and this move reflects BBVA's strategic focus on expanding its portfolio and solidifying its position within the financial market. Related Sources: • Source 1 • Source 2