Spanish bank BBVA raises bid for rival Sabadell to €17bn

BBVA has raised bid by 10%

Spanish bank BBVA on Monday said it raised its bid for Sabadell by 10% to €3.39 per share, valuing its smaller rival at €17bn. Picture: Jim Dyson/Getty Images Europe

Spanish bank BBVA on Monday said it raised its bid for Sabadell by 10% to €3.39 per share, valuing its smaller rival at €17bn.

BBVA now offers 1 of its own shares for each 4.8376 Sabadell shares in what would be Spain's second-biggest banking deal by assets.