BBVA and Banco Sabadell are negotiating a merger to become the second largest entity in Spain

BBVA has confirmed that it is in talks with Banco Sabadell to negotiate a merger between the two entities. In a statement sent to the National Securities Market Commission (CNMV) on Monday, the entity chaired by Carlos Torres acknowledged that the two groups have begun a process of reviewing assets (‘due diligence’) and has appointed advisers external to evaluate the operation. In the same statement, BBVA emphasized that “no decision has been taken in relation to a potential merger operation” and added that “there is no certainty that it will be adopted”. If the merger were to materialize, the resulting entity would have a volume of assets that would be close to 600,000 MEUR, a figure very close to CaixaBank and Bankia.

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