Reuters scoops Spain’s Sabadell and Guipuzcoano studying merger

Reuters broke news from a source in the early hours of June 11 that listed banks Sabadell and Guipuzcoano were studying a tie-up, the first among the listed banks. Sabadell confirmed the merger talks before the Spanish stock market opened. Sabadell shares rose over 3 percent just after the opening and closed up nearly 7 percent. Guipuzcoano closed down 0.6 percent.