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Spain's Sabadell studying merger with Guipuzcoano

Source: Reuters - Fri 11th Jun 2010

Spain's Banco Sabadel on Friday confirmed it was studying a merger with smaller rival Guipuzcoano via a share exchange, adding that no decision had yet been taken.

A source close to the deal told Reuters earlier on Friday that Sabadell was looking at the tie-up.

"There have been meetings between Sabadell and Guipuzcoano and a merger is being considered" the source said, but did not provide further details.

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