Brussels wants bigger, more efficient banks to help restore Europe’s competitiveness. National capitals have other ideas.

The board of Banco de Sabadell is asking the company's shareholders to approve a roughly $4 billion sale of its British subsidiary TSB to Spanish peer Banco Santander.

BBVA SA decided to keep its takeover offer for Banco Sabadell SA alive even though the Spanish government’s decision to ban a merger for several years has cast doubt over how it will pan out.