BBVA - Spain's BBVA and Banco Sabadell call off merger

U.S. arm of Spanish lender Banco Bilbao Vizcaya Argentaria SA (BBVA) and Banco de Sabadell (BNDSF) in talks to halt their potential merger agreement after failing to agree financial terms, prompting Sabadell to consider options for its British unit TSB.Previously, Both banks had announced a potential merger transaction between the two entities for a deal to create Spain’s second-biggest domestic bank with almost 600B euros ($715.3B) in assets.Later, BBVA Chief Executive Onur Genc says there in no rush and the bank had other options.Shares are up 2.5% PM.

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Spain's BBVA and Banco Sabadell call off merger