GQG Partners Sells BBVA Stake Amid Sabadell’s Hostile Bid, According to FT Reports

GQG Partners, a significant shareholder in Spanish bank BBVA, has decided to divest its stake, a move triggered by BBVA’s aggressive pursuit of a hostile takeover of Banco Sabadell, another domestic rival. This decision emerged after GQG communicated to BBVA’s management its concerns that the acquisition could prove excessively time-consuming and distracting. The investment firm...