FX.co ★ BBVA Seeks To Explore Possible Merger With Sabadell; Stock Down

Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) and Banco Sabadell are said to be discussing a potential merger. BBVA has appointed advisors to negotiate with Sabadell's board of directors, with the aim of exploring a merger between the two banks, as reported by Reuters. Spanish-based Banco Sabadell also confirmed receipt of the merger proposal from BBVA, a matter which is set to be analyzed by its board.

If the merger deal is finalized, the joint capital of both entities would approximate to $78.27 billion, as per FactSet data. As of now, BBVA's stock is listed at $10.78 on the New York Stock Exchange, reflecting an 8.21 percent fall.