Santander had ‘much higher bid’ for Popular, sources claim

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

Santander had ‘much higher bid’ for Popular, sources claim

Popular_PA_230x150
June 5, 2017 - Madrid, Spain - A man walks past in front of branch of Popular Bank in Madrid..Shares in Banco Popular Español SA POP plunged 18.2\% due to Spanish bank may not find a buyer and have to be wound down. (Credit Image: © Jorge Sanz/Pacific Press via ZUMA Wire) | Jorge Sanz/Zuma Press/PA Images

Santander had lined up a “much higher bid” than the €1 it paid for Banco Popular last summer, claimed sources close to the Spanish bank’s resolution. They argued that the sales process would have been more competitive if the Single Resolution Board had allowed potential rescue bidders more time to consider their positions.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login
Gift this article