Santander mulls 10% Bankia stake acquisition
Santander, the listed Spanish bank, is looking at acquiring a minority stake in Bankia, the nationalised lender controlled by Frob, El Confidencial Digital reported.
Santander’s strategy lies in acquiring a 10% shareholding in Bankia, a stake large enough to give it control of its rival, the report said, citing financial sources. The strategy also envisages the acquisition of minority stakes by a number of investment firms, the report continued.
Frob’s next sell-off of Bankia shares is scheduled for October, the report noted. Frob currently holds a 60.89% stake.
Source El Confidencial Digital