Block bankers renew Bankia bids

27 May 2012

The €19bn restructuring of Bankia, announced over the weekend, could help speed up the unwinding process of cross-shareholdings in Spain. Bankia marked its listed equity holdings to market which might make it a more enthusiastic seller — though for some, block sales are a sideshow compared to potential capital raises across the Spanish financial system.

Bankia and parent BFA took a €1.6bn write-down on their listed equity holdings as part of the €19bn restructuring exercise. That may make the institution more willing to sell its stakes in Iberdrola, Mapfre, Indra Sistemas and International Airlines Group.

It owns 224m IAG shares, 12.1% of the company, ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.