bbva

Catalan bank says current offer 'destroys' shareholder value and rests on 'unrealistic assumptions'

Bank believes acquisition generates value despite Spanish government's three-year delay imposed on merger

Acquisition approved under stricter conditions, raising doubts about its feasibility

Decision made ahead of Economy Minister's appearance on possible government action over takeover bid

President Carlos Torres says acquisition will be a 'success' and make bank 'more competitive'

Spanish government rejects move and warns of 'damaging' effect on financial system

Catalan bank says proposal 'significantly undervalues' its project and growth prospects

Failed talks to integrate Basque and Catalan lenders also took place in 2020

Bank will cut 2,935 jobs across Spain but unions claim there will be "no forced exits"

Bank intends to close 530 offices, a few days after Caixabank revealed 754 people would be made redundant in Catalonia

Disagreements over split of shares prevent formation of Spain's second largest lender

Resulting banking group would have assets of €600bn, close to that of CaixaBank and Bankia 

BBVA lowers economic growth prospects for 2019-2020 and warns of long-lasting impact on international tourism