Spanish property developer Manuel Jove has agreed to buy UBS’s 4.9 per cent stake in the Bilbao-based Banco Bilbao Vizcaya Argentaria, Spain's second-largest financial group by market value, for about €3.2 billion ($4.4 billion). It will make him the bank's largest shareholder. Mr Jove said he is seeking regulatory approval to raise the stake to 5 per cent in what he described as a "stable" investment. One of Spain's richest men, he said he would not seek to be involved in the company's management. BBVA officials said that the bank has been notified of the stake acquisition and that it considered Mr Jove's purchase as friendly and as a sign of confidence in the bank.