23-06-2025
BBVA chair: potential sale of TSB by Sabadell has to comply with legislation
SANTANDER, Spain, June 23 (Reuters) - BBVA ( opens new tab Chairman Carlos Torres on Monday called for a clarification on the potential sale of Sabadell's ( opens new tab British unit TSB and said any such move amid BBVA's bid for Sabadell would have to comply with the Spanish legislation.
His comments come after Sabadell last week said it had received expressions of interest in TSB, which analysts say could be a defensive move to ward off BBVA's ( opens new tab proposed 14-billion-euros ($16.06 billion) hostile takeover bid for smaller rival Sabadell ( opens new tab.
The Spanish government is set to decide on Tuesday whether to impose additional conditions on BBVA's offer before giving it its approval.
($1 = 0.8715 euros)
