Link Securities | BBVA could reduce its takeover bid for Banco Sabadell by up to 15% (between €1.6 billion and €2.3 billion, according to sources consulted) if the Catalan bank sells TSB for around €2 billion, according to today’s edition of the newspaper Expansión. The newspaper notes that the market believes that the sale of TSB is Sabadell’s last chance to halt the takeover bid, as it is taken for granted that the bank would use the capital raised to increase its dividend. Sabadell would also lose scale and reduce its revenue diversification if it goes ahead with the sale.
If Banco Sabadell sells TSB for around €2 billion, BBVA could cut takeover bid by up to 15%
