September 5, 2017 / 7:05 AM / 2 years ago

BBVA selected to buy Deutsche Bank Spain - El Confidencial

MADRID, Sept 5 (Reuters) - Spanish bank BBVA has been selected as the only interested party to buy Deutsche Bank’s unit in Spain in the second round of its sale process, news outlet El Confidencial reported on Tuesday.

Spokesmen for both banks declined to comment on the report.

According to El Confidencial, Deutsche Bank has asked for 700 million euros ($832 million) for its Spanish unit, which has 230 branches focused on investment banking, private banking and asset management.

BBVA’s offer is for between 300 million and 400 million euros, El Confidencial reported.

Reuters reported in March that Deutsche Bank was considering pulling out of some of its European retail operations, including in Spain.

$1 = 0.8409 euros Reporting by Robert Hetz; Writing by Angus Berwick; Editing by Mark Potter

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