BBVA lowers synergy estimates for potential Sabadell takeover - report
Investing.com -- BBVA (BME:BBVA) SA has reduced its internal estimates for potential savings from a takeover of Banco Sabadell SA, according to a report by Expansion.
The Spanish bank now expects synergies of approximately €300 million ($353 million) from a possible deal, the report said, citing unidentified people familiar with the matter.
This represents a significant reduction from its earlier calculation of €850 million, the newspaper reported.
The downward revision follows the Spanish government’s decision to block a full merger between the two banks for several years.
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