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Sabadell Gets Expressions of Interest for UK Unit TSB
UNITED KINGDOM, JUN 16 – Banco Sabadell may raise up to £2 billion by selling TSB to UK banks as a defensive move against BBVA's €11 billion hostile takeover bid, sources said.
- Sabadell has received preliminary non-binding expressions of interest for its British unit TSB and will assess any potential binding offers it may receive.
- The Financial Times reported that Sabadell is considering selling TSB to counter a takeover bid from BBVA, citing sources familiar with the matter.
- A source told the Financial Times that a sale of TSB could generate between £1.7 billion and £2 billion.
- Sabadell previously paused plans to sell TSB until it improves the British bank.
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Total News Sources36
Leaning Left5Leaning Right2Center8Last UpdatedBias Distribution54% Center
Bias Distribution
- 54% of the sources are Center
54% Center
L 33%
C 54%
13%
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