Banco Popular could attract investment of up to EUR 6bn in capital raise; halts WiZink sale
Banco Popular [BME:POP] Chairman Emilio Saracho has attracted the interest of several investment funds ready to invest in a new macro capital increase, Cinco Dias reported, citing financial sources. Saracho was considering a capital increase below EUR 3bn, but now the figure could increase significantly, the paper said, to EUR 4bn, EUR 5bn or even EUR 6bn.
According to the Spanish-language paper, however, only after Popular clears its balance and eliminates doubts about its solvency will institutional investors enter its capital.
Saracho has decided not to sell for now the 49% Popular owns in the card business WiZink, Cinco Dias went on to say. The executive believes that the business is profitable and could double its profit this year to EUR 250m, the paper added.