The European Commission has sent Spain a legal warning over its move to block a banking merger between BBVA and Banco Sabadell, a deal that would create one of the region’s largest lenders.

The EU said Spanish laws granting the power to intervene in banking deals undermined the ECB and restricted the bloc’s freedoms of establishment and capital movements.

According to the EC, Spain's actions contravene European Union rules, potentially impacting the region's banking consolidation efforts.

Ruling prevents an immediate merging of the banks even if Spain’s bigger lender succeeds in its €13bn hostile bid ...

The board of Spain's Banco Sabadell on Monday rejected a merger proposal by larger rival BBVA for a 12 billion euro ($12.93 billion) all-share merger, Sabadell said in a statement to the Spanish ...

By Jesús Aguado MADRID (Reuters) -BBVA aims for higher profits and capital distribution over the next four years based on ...

The European Commission officially challenged the Spanish government on Thursday over its attempts to hinder Spanish bank BBVA's hostile bid for smaller rival Sabadell .

Warning comes as European Commission pushes for more bank mergers to boost European financial sector’s fire power.

The new bid would be carried out under the same conditions as the merger proposal rejected by Sabadell’s board of directors — an exchange of one new BBVA share for every 4.83 Sabadell shares ...

Now, BBVA said it would offer one newly issued share for every 4.83 Sabadell shares, an exchange ratio representing a 30% premium over the closing prices of BBVA and Sabadell on April 29.

Banco Bilbao Vizcaya Argentaria is pursuing merger talks with smaller peer Banco de Sabadell SAB -1.13%, seeking another shot at a tie-up that could make it Spain’s largest bank after a previous ...

BBVA Seeks To Explore Possible Merger With Sabadell; Stock Down April 30, 2024 — 02:48 pm EDT Written by RTTNews.com for RTTNews -> ...