Banco Sabadell : Home Alone; credit opinion and recommendation cut to Stable/Neutral
Unexpected and abrupt termination of the merger talks with BBVA - >Last Friday, Banco Sabadell and BBVA announced the discontinuation of the merger talks announced on 16 November. The reason for it was the disagreement on the price of the transaction, in effect how much BBVA was ready to pay to acquire Banco Sabadell. They were leaks in the Spanish press the day following the announcement about the mergers allegedly floundering, but the announcement was unexpecte...Banco de Sabadell is a bank holding company. Through its subsidiaries, Co. provides a range of banking and financial services in Spain and internationally. Co.'s activities include investment banking, private banking, portfolio management, mortgage loans, commercial loans and other financial products and services, deposits and international banking operations. Co. is also engaged in life insurance underwriting and brokerage. Additionally, Co. is engaged in capital property and development, as well as investing in environmental projects. As of Dec 31 2014, Co. had total assets of Euro163,345,673,000 and total customer deposits of Euro98,208,370,000.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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