GQG Partners, which is a big investor in several European banks, was a top-five shareholder in BBVA but sold out this summer after telling the bank’s management team it opposed their contentious attempt to buy Sabadell, according to people familiar with the conversations.

GQG Partners, one of Spanish bank BBVA's biggest shareholders, has sold its stake over the bank's decision to pursue a hostile bid for domestic rival Banco Sabadell, the Financial Times reported on Sunday.

A top Banco Bilbao Vizcaya Argentaria (NYSE:BBVA) investor has sold off its stake over its opposition to the Spanish bank’s 10B-euro ($10.87B) hostile bid for Banco de Sabadell (OTCPK:BNDSF) (OTCPK:BNDSY),

A major shareholder of the Spain-based bank Banco Bilbao Vizcaya Argentaria, or BBVA ($ES:BBVA), has divested its entire stake due to the bank’s