ANALYSTS have argued that
Offloading the business, which Sabadell bought for £1.7bn in 2015, could "allow BBVA to include a cash element of up to 10 per cent of the offer", Barclays analysts said in a note.
They added that this move to sell TSB would cost BBVA a "limited" negative 25 basis points in Common Equity Tier 1 capital (CET1). If the bank finds a buyer, a sale at terms in line with Nationwide's recent deal to buy
BBVA last week launched a rare hostile takeover bid for Sabadell after the latter rejected its initial offer, taking its €12.2bn (£10.5bn) all-share merger proposal directly to shareholders.
BBVA's CEO
(c) 2024 City A.M., source