By Elena Vardon
Banco Bilbao Vizcaya Argentaria confirmed that it is interested in starting talks with Banco de Sabadell regarding a merger between the two Spanish lenders.
BBVA said in a regulatory filing Tuesday that its board has approached Sabadell's chair to explore a tie-up, and that it has appointed advisors.
Sabadell denies that it is in talks or negotiations with BBVA, a spokesperson told Dow Jones Newswires.
A merger would form a combined entity valued at almost 73 billion euros ($78.27 billion). BBVA's market capitalization stood at EUR63.5 billion as of Monday's close, while Sabadell's was EUR9.4 billion, according to FactSet data.
Write to Elena Vardon at elena.vardon@wsj.com
(END) Dow Jones Newswires
04-30-24 0824ET