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EquityEquity - Follow-ons and Rights issues

Santander prepares €7bn rights issue to recap Banco Popular

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Many equity market participants thought the wave of big European bank recapitalisations was beginning to wind down, until Santander surprised the market on Wednesday by announcing a €7bn rights issue to recapitalise Banco Popular, its failed domestic rival, after agreeing with European regulators to buy the bank for €1.

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