Investing.com -- Spain’s stock market supervisor suspended trading in shares of banks BBVA (BME: BBVA ) and Sabadell on Tuesday.
The suspension came ahead of the Spanish government’s decision on whether to set additional conditions for BBVA’s hostile takeover bid for its smaller rival Sabadell.
The trading suspension is a standard regulatory procedure when significant decisions affecting publicly traded companies are imminent.
BBVA launched the unsolicited bid for Sabadell, which would create a larger banking entity in the Spanish financial sector if approved.
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