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MarketScreener Homepage  >  Equities  >  Bolsas y Mercados Espanoles  >  Banco Bilbao Vizcaya Argentaria, S.A.    BBVA   ES0113211835

BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

(BBVA)
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BBVA, Sabadell Ditch Merger Talks

11/27/2020 | 03:40am EST

By Mauro Orru

Talks for a potential merger between Spanish lenders Banco Bilbao Vizcaya Argentaria SA and Banco de Sabadell SA have come to an abrupt end, upending a deal that would have created a bank with a market cap of about 27.5 billion euros ($32.76 billion).

Banco de Sabadell said Friday that negotiations have ended as the two banks failed to reach an agreement on the exchange ratio of both entities. BBVA also confirmed talks fell apart.

Shares in Banco de Sabadell fell around 17% at market open, while BBVA was flat.

The announcement comes less than two weeks after the two banks had said they were holding discussions, had appointed external advisors and embarked on a due diligence process.

The missed deal is a setback for consolidation in the overcrowded European banking sector, which had been gathering pace.

CaixaBank SA in September agreed to take over small rival Bankia SA in a merger set to create Spain's largest domestic bank and the country's third-largest bank by assets.

Intesa Sanpaolo SpA also secured support to acquire UBI Banca, creating Italy's largest bank by assets and the eurozone's second-biggest by market capitalization.

As prospects of a BBVA-Sabadell deal have faded, Banco de Sabadell said it would evaluate alternatives for value creation with regards to the group's international assets, including British lender TSB.

The Spanish bank will prioritize the Spanish market as part of a new plan aimed at increasing profitability and creating value for shareholders.

While details of the plan are due in the first quarter of 2021, it is expected to include the expansion of the transformation program in the Spanish retail market, with a neutral impact on capital.

Pietro Lombardi contributed to this article

Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94

(END) Dow Jones Newswires

11-27-20 0339ET

Stocks mentioned in the article
ChangeLast1st jan.
BANCO BILBAO VIZCAYA ARGENTARIA, S.A. -0.82% 4.002 Delayed Quote.-0.82%
BANCO DE SABADELL, S.A. -4.99% 0.3654 Delayed Quote.3.22%
BANKIA, S.A. -3.94% 1.402 Delayed Quote.-3.24%
CAIXABANK, S.A. -3.93% 2.052 Delayed Quote.-2.33%
INTESA SANPAOLO S.P.A. -1.72% 1.8842 Delayed Quote.0.24%
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Financials
Sales 2020 23 149 M 28 173 M 28 173 M
Net income 2020 800 M 973 M 973 M
Net Debt 2020 - - -
P/E ratio 2020 32,5x
Yield 2020 1,40%
Capitalization 26 565 M 32 337 M 32 330 M
Capi. / Sales 2020 1,15x
Capi. / Sales 2021 1,24x
Nbr of Employees 124 110
Free-Float 99,8%
Chart BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
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Banco Bilbao Vizcaya Argentaria, S.A. Technical Analysis Chart | MarketScreener
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Technical analysis trends BANCO BILBAO VIZCAYA ARGENTARIA, S.A.
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 4,21 €
Last Close Price 4,00 €
Spread / Highest target 37,4%
Spread / Average Target 5,26%
Spread / Lowest Target -50,6%
EPS Revisions
Managers and Directors
NameTitle
Onur Genç Chief Executive Officer & Director
Carlos Torres Vila Group Executive Chairman
Jaime Saenz de Tejada Pulido Chief Financial Officer & Global Head-Finance
Carlos Loring Martínez de Irujo External Director
José Maldonado Ramos External Director