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Euronews
Christina Thykjaer

Sabadell shareholders approve sale of TSB to Santander as BBVA threat looms

TSB BBVA Sabadell Banco Sabadell Banco Santander

Banco Sabadell shareholders unanimously backed the sale of its UK subsidiary TSB to Banco Santander at an extraordinary meeting on Wednesday.

The deal, valued at a minimum of £2.65 billion (around €3.05 billion), represents a notable gain against the acquisition price. In 2015, Sabadell bought TSB for £1.7 billion, equivalent today to around €1.95 billion.

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