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Expert comment on Sabadell's £1.7bn takeover move for TSB PDF Print E-mail
Thursday, 12 March 2015

Assistant Professor of Finance, Dr Kebin Ma, of Warwick Business School, comments on Sabadell's £1.7bn takeover move for TSB.

He said: "This is an interesting deal and looks good for both parties. Banco Sabadell clearly faces the risk that the Spanish economy will remain sluggish for a prolonged period. The bank is not as diversified as Spanish rival Santander, and the acquisition of TSB should certainly help it achieve better diversification.

"Also TSB's business is mainly retail-based, which is robust and does not come with too many complications. From TSB’s point of view, the deal is probably more about pure ownership, rather than any change in business model or risk. The offer is very good and the stock market response suggests the deal would create value for shareholders."   

 

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