Europe Bank Shakeup is a result of Spain'sBBVA taking aim at $10 billion

BBVA’s €12 billion Sabadell Proposal Signals Europe Bank Shakeup. Banco Bilbao Vizcaya Argentaria SA said it wants to begin talks to take o take o the Spanish bank. The announcement comes after a proposal by BBVA to take over the Spanish banking sector.

BBVA said on Tuesday it had approached Sabadell about a possible merger, a deal which would create a Spanish bank with assets of nearly 1 trillion euros ($1.07 trillion).