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Spain's BBVA fails in Sabadell takeover bid
Spain's BBVA fails in Sabadell takeover bid
Economy
by  AFP

Spanish banking giant BBVA's hostile takeover bid for smaller rival Sabadell has failed, dashing its hopes of creating a new European sector colossus, the stock market regulator announced on Thursday. The leadership of Sabadell, Spain's fourth-largest bank, had persistently rejected BBVA's advances and recommended its plethora of small shareholders reject the bid.