BBVA approaches Banco Sabadell for potential merger, aiming to create one of Europe's largest banks.

BBVA, Spain's second-largest bank, has approached Banco Sabadell to explore a potential merger, a move that could create one of Europe's largest banking entities. BBVA has appointed advisors and informed Sabadell's chairman of its interest in initiating merger negotiations. This follows a previous attempt at merging in 2020, which was called off by Sabadell's board due to disagreements over share values.