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Banco de Sabadell, S.A. (SAB.MC)

MCE - MCE Delayed price. Currency in EUR
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0.6874+0.0334 (+5.11%)
As of 1:08PM CEST. Market open.
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  • Reuters

    Spain's Sabadell rejects offer from Co-op bank for its British unit TSB

    Spain's Sabadell said on Saturday its board has rejected an offer from Co-operative Bank for its British subsidiary TSB, after Sky News first reported about the approach. Sabadell confirmed in a statement that it had received a letter from Co-operative Bank outlining a proposed offer for TSB, but said its board had officially responded to Co-operative Bank that "this is not a transaction that we wish to explore at this moment as we have previously expressed publicly". Sky News said Co-operative Bank had indicated to Sabadell that it would be willing to pay more than 1 billion pounds ($1.38 billion) to acquire control of TSB.

  • Reuters

    Spanish bank Sabadell reaches deal with union to cut jobs

    MADRID (Reuters) -Spanish bank Sabadell has reached a deal on Friday with a leading union to lay off up to 1,605 employees in its home market, fewer than the more than 1,900 initially planned. The agreement with Comisiones Obreras (CCOO) was reached after the bank met some of the union's demands, such as setting a lower number of layoffs, capped at 1,380, a union spokesperson said. "If 1,380 employees take redundancy leave the bank would accept it," the union spokesperson said, adding that if more decided to leave cuts would be capped at 1,605 employees.

  • Reuters

    Sabadell seeks to cut 13% of workforce in Spain -union

    Sabadell wants to cut 1,900 jobs in Spain, around 13% of staff in its home market, a union negotiating with the bank said on Thursday, under plans to cut costs and make more money. Such a reduction would be Sabadell's second in less than a year after recently cutting 1,817 jobs in Spain, where it employs a total of 14,648 people. Union Comisiones Obreras (CCOO) said it saw no reason for a new round of layoffs at Sabadell, given "no economic, technical, productive or organisational causes".