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EquityEquity - Follow-ons and Rights issues

Santander prepares €7bn rights issue to recap Banco Popular


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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