Sabadell bonds battered after BBVA merger talks end

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By Tyler Davies
27 Nov 2020

Banco de Sabadell’s debt securities took a nose-dive in the secondary market on Friday morning, after the Spanish lender said that it had failed to agree on the terms of a merger with BBVA.

Market participants had expected a tie-up between the two Spanish banks after they entered M&A discussions less than two weeks ago.

But the duo said on Friday morning that they had failed to reach an agreement on an acceptable exchange ratio, which would have allowed them to value ...

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