BBVA Chairman says he will not step down despite failure in Sabadell bid

Core Viewpoint - The chairman of Spain's BBVA, Carlos Torres, has stated he will not resign despite the bank's unsuccessful attempt to gain support from Sabadell shareholders for its €16.32 billion ($19.1 billion) hostile takeover bid [1] Group 1 - BBVA's hostile takeover bid for Sabadell was valued at €16.32 billion ($19.1 billion) [1] - The failure to convince Sabadell shareholders indicates challenges in the merger and acquisition landscape within the Spanish banking sector [1] - Carlos Torres's decision to remain in his position reflects confidence in BBVA's strategy and leadership amid the failed bid [1]