Spain’s Sabadell Decision Not Swayed by Politics, Minister Says

Spain’s Economy Minister Carlos Cuerpo said the government’s decision to impose additional hurdles on BBVA SA’s bid for Banco Sabadell SA wasn’t motivated by concern about how a deal would be viewed in the autonomous region of Catalonia, where Sabadell is based.

It’s “not true” that such considerations played a role, Cuerpo told Bloomberg Television in an interview on Wednesday.

The government said on Tuesday that BBVA can go ahead with its offer under the condition that the two banks keep separate operations for at least three years and possibly as long as five. Shares ...