08:46 AM EST, 11/13/2024 (MT Newswires) -- Banco Bilbao Vizcaya Argentaria ( BBVA ) is willing to abandon its pursuit of Banco Sabadell if stringent Spanish regulatory requirements undermine the deal's appeal, Bloomberg reported Wednesday, citing BBVA Chief Executive Onur Genc as saying at a conference in Madrid.

The company "will not hesitate one second to walk away" from the deal if the conditions imposed by Spain's National Commission on Markets and Competition make it worthless, the news outlet quoted Genc as saying.

Genc said Banco Bilbao will now work with the Spanish regulator to finalize the list of remedies and the deal is expected to be approved in a few months, the report said.

Neither Banco Bilbao nor Banco Sabadell immediately responded to MT Newswires' requests for comment.

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