Banco Bilbao Vizcaya Argentaria said it is prepared to walk away from the deal if conditions imposed by Spain’s competition authority are too stringent.

BBVA Chief Executive Officer Onur Genc said he’s prepared to abandon the pursuit of rival Banco Sabadell if stringent regulatory conditions were to spoil the deal’s appeal.

Spanish bank BBVA has suffered a setback in its €11bn hostile bid for local rival Sabadell as the country’s antitrust regulator announced it would subject the deal to a more rigorous competition review.

Spain's competition regulator has launched a more extensive review of BBVA's €12 billion hostile takeover bid for rival bank Sabadell, potentially delaying the deal's completion well into 2025. The National Commission for Markets and Competition (CNMC) announced on Tuesday that it would proceed with a second-phase investigation of the proposed merger,

BBVA's long pursuit of Sabadell is becoming even longer, with Spanish regulators launching an in-depth review of its bid, which fell further in value after Donald Trump's U.S. election victory fuelled concerns over its Mexican business.

Spanish bank BBVA is experiencing yet another delay in its hostile takeover bid for Banco Sabadell, following increased requirements put forward by Spain’s antitrust regulator. View on euronews