Group 1 - BBVA is pursuing a takeover of Banco Sabadell, despite Sabadell's decision to sell its U.K. unit, TSB [1][2] - Sabadell plans to sell TSB to Banco Santander for £2.9 billion (approximately $4 billion) and will use the proceeds to fund a €2.5 billion (about $2.9 billion) extraordinary cash dividend for shareholders [3][4] - The sale of TSB is seen as a strategy by Sabadell to enhance shareholder value and defend against BBVA's takeover bid [2][5] Group 2 - BBVA may make a tender offer to Sabadell's shareholders within weeks, although it has not made a final decision and could potentially withdraw from the deal [2] - Banco Sabadell's Chairman stated that the transaction is beneficial for the bank and its shareholders, allowing for an extraordinary dividend while maintaining a capital ratio above 13% [4] - Santander's acquisition of TSB is expected to strengthen its position in the U.K. market, creating the third largest bank in the country by personal current account balances [5] Group 3 - The Spanish government has indicated that BBVA's offer can proceed, provided that BBVA and Sabadell maintain separate operations for a period of three to five years [6]

Spain’s Economy Minister Carlos Cuerpo discusses the country's defense spending plans as NATO leaders meet in The Hague for a summit expected to endorse the new investment targets. He tells Bloomberg Television that Spain has estimated what it needs to spend and that this amounts to 2.1% of output and that it will remain a "responsible NATO ally." He also comments on the decision by the Spanish government regarding BBVA's bid for Banco Sabadell. 00:00 - Spanish Economy Minister on NATO spending, 2.1% of GDP ...