Spanish bank Sabadell has postponed completing the sale of its payments assets to Nexi after becoming the target of a hostile takeover by Bbva.

Two sources familiar with the situation said this.

One of the sources said the closing has been postponed, probably for months, with no changes to the agreed deal.

"It is expected to go ahead as planned as soon as the outcome of the tender offer is clarified," the source said.

Spokesmen for Sabadell and Nexi did not comment.

Before Bbva announced its €12 billion-plus bid, Sabadell said in late April that it planned to close the sale of its payment business to Nexi for €350 million in the second quarter of 2024.

(Translated by Laura Contemori, editing Gianluca Semeraro)