BBVA Favors Proceeding With Sabadell Bid If Investors Agree
By and Daniel Basteiro
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BBVA SA is leaning toward proceeding with its takeover offer for Banco Sabadell SA and is sounding out investors to see if they still back the deal, after Spain said the lenders wouldn't be allowed to fully merge for several years.
BBVA executives think most of the savings can still be achieved, if at a slower pace than expected, according to people familiar with the matter. No final decision has been made and the outcome of ongoing deliberations depends on whether top investors of both banks continue to support the bid under the circumstances, the people said, asking for anonymity to discuss the private information.
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