BBVA takes control of TSB
Spanish banking giant BBVA gets green light to buy British bank TSB
Deal will create one of the biggest banks in the UK
Spanish banking giant BBVA has been given the green light to take control of British bank TSB. The deal, which was announced in September 2018, will create one of the biggest banks in the UK.
BBVA has agreed to pay £1.7 billion for TSB, which has more than 5 million customers and 600 branches.
The deal is expected to be completed in the first half of 2019, subject to regulatory approval.
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