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BBVA raises Sabadell bid by 10% in Spanish banking deal

Spanish bank BBVA said today it had raised its bid for smaller rival Sabadell by 10% to €17 billion, as part of its attempt to create the country's second-biggest bank by assets.

Business • 22 Sep

BBVA launches €14.8 billion takeover bid for Sabadell

Spanish bank BBVA today formally launched its €14.8 billion hostile takeover bid for Sabadell, with some analysts expecting it will have to raise its offer as shares in its smaller rival have surged past the original price.

Business • 08 Sep

Santander bolsters presence in UK with deal for TSB

Spain's Santander has reached an agreement to acquire smaller rival Sabadell's UK unit TSB for initially £2.65 billion in an all-cash deal, subject to approval by Sabadell shareholders.

Business • 02 Jul

BBVA to proceed with Sabadell bid despite govt condition

Spain's BBVA has said it would move ahead with its hostile takeover bid for Sabadell despite the government effectively blocking it from fully merging with its smaller rival for at least three years.

Business • 01 Jul

Santander submits binding bid for UK's TSB, sources say

Santander is among bidders that submitted a binding offer for Spanish lender Sabadell's British unit TSB, two sources with knowledge of the matter told Reuters.

Business • 30 Jun

Sabadell gets expressions of interest for UK unit TSB

Spain's Sabadell said it had received preliminary non-binding expressions of interest for its British unit TSB and will assess any potential binding offer it may receive.

Business • 17 Jun

Spanish regulators have launched an in-depth review of BBVA's deal for Sabadell

BBVA's Sabadell bid mired in concerns over Mexico

BBVA's long pursuit of Sabadell is becoming even longer, with Spanish regulators launching an in-depth review of its bid, which fell further in value after Donald Trump's US election victory fuelled concerns over its Mexican business.

Business • 13 Nov 24

BBVA first launched a bid for all Sabadell shares, worth more than €12 billion, in April

BBVA adjusts offer for Sabadell after dividend payments

Spain's BBVA said today that it had adjusted its takeover offer for Sabadell to take into account interim dividend payments from both lenders to shareholders in order to maintain the economic terms of the bid.

Business • 02 Oct 24

BBVA launched a €12 billion bid for all Sabadell shares in April, which turned hostile in May

BBVA has no intention of increasing Sabadell offer

Spanish bank BBVA has no intention of increasing its offer for smaller rival Sabadell, Chairman Carlos Torres said today.

Business • 17 Sep 24

Combining BBVA and Sabadell would create a bank with more than €1 trillion in total assets

ECB gives green light to BBVA's acquisition of Sabadell

The European Central Bank has authorised BBVA's offer for Sabadell part of the regulatory process for the Spanish bank's hostile bid for its smaller rival.

Business • 06 Sep 24

The UK's Prudential Regulation Authority has given a green light to BBVA to take indirect control of TSB, the British unit of Spain's Sabadell

BBVA secures UK approval for deal for Sabadell's unit TSB

Britain's Prudential Regulation Authority has given a green light to BBVA to take indirect control of TSB, the British unit of Spain's Sabadell, BBVA said today.

Business • 03 Sep 24

Spanish lender BBVA has made a hostile bid for rival Sabadell

Euro zone's fragmented banking industry

Supporters for more consolidation in the euro zone's banking sector have been watching Spanish lender BBVA's hostile bid for Sabadell, alongside comments from some supervisors and politicians supporting the idea of more tie-ups.

Business • 18 Jun 24

BBVA is Spain's second-biggest bank by market value after Santander

Spanish government opposes BBVA's €12bn Sabadell bid

Spain's government opposes BBVA's hostile takeover bid for its smaller rival Sabadell, Economy Minister Carlos Cuerpo said today.

Business • 09 May 24

TSB had 5,426 employees by the end of 2023, down from 5,482 in 2022

British bank TSB to cut jobs and close branches

TSB, the British lender owned by Spain's Sabadell will cut jobs and close branches to improve its efficiency, the CEO of the Spanish bank told a press conference today after TSB set aside restructuring costs of £29m.

Business • 01 Feb 24

TSB was fined £29.75m by the FCA and £18.9m by the PRA

UK bank TSB fined £48.7m over botched IT migration

British lender TSB has been fined £48.65m over a botched IT platform migration in 2018, UK regulators said today.

Business • 20 Dec 22

UK bank TSB will pay a one-time £1,000 bonus to around 4,000 of its staff to help them cope with rising inflation

TSB to give staff £1,000 to cope with inflation

British lender TSB, a unit of Spanish bank Sabadell, will pay a one-time £1,000 bonus to around 4,000 of its staff to help them cope with rising inflation, a Sabadell spokesperson said today.

Business • 21 Sep 22

If a BBVA/Sabadell deal goes ahead, the new bank would have nearly €600 billion in assets in Spain

BBVA-Sabadell talks to create Spain's 2nd biggest bank

BBVA and smaller rival Sabadell said they are in talks to create Spain's second-biggest domestic lender by assets, the latest move in the accelerating consolidation of the Spanish banking sector.

Business • 17 Nov 20

Paul Pester announces he is leaving the troubled UK lender

TSB boss walks away with nearly £1.7m after quitting

TSB boss Paul Pester will leave the troubled UK bank with a payout of nearly £1.7m despite standing down in the wake of a botched IT switch and a string of ongoing technology failures.

Business • 04 Sep 18

Sabadell - Spain's fifth-biggest lender - decided yesterday to move its base from Catalonia to Alicante

Spain makes it easier for firms to move from Catalonia

Spain's government will issue a decree today making it easier for firms to transfer their legal base out of Catalonia, two sources said.

Business • 06 Oct 17

Sabadell is Spain's fifth biggest bank and has its headquarters in Catalonia

Spanish bank mulls moving HQ from Catalonia

Sabadell will consider today whether to shift its headquarters away from Catalonia in the first major sign that the wealthy region's push for independence from Spain could scare away big business.

Business • 05 Oct 17

Sabadell