Spanish owner of TSB at centre of BBVA merger speculation

The Spanish owner of TSB, one of Britain's biggest high street lenders, was on Tuesday at the centre of speculation that it is being targeted for a takeover by the giant banking group BBVA. Sky News understands that BBVA is at the early stages of working with advisers on evaluating a potential all-share bid for Sabadell. City sources said that investment bankers at JP Morgan were advising BBVA on its interest in Sabadell, with UBS also said to be involved in an advisory capacity.