Sunday 13 July 2014

Qatar approaches IAG over Bankia stake

Qatar has approached International Airlines Group, the owner of British Airways and Iberia, with an informal offer to become the company's largest shareholder by buying the 12 per cent stake held by Spain's nationalised lender Bankia, th


Bankia hires Rothschild for stake sale

Bailed-out Spanish lender Bankia has hired Rothschild to help sell its stakes in companies, including power group Iberdrola and insurer Mapfre, as the bank rebuilds its capital. Bankia, which along with parent group BFA took 18 bi


Spanish bank to wipe out 350,000 shareholders

Spanish lender Bankia will wipe out 350,000 shareholders, many of them small savers with little knowledge of financial markets, after it emerged it had a negative value of 4.2 billion euros ($5.6 billion). The measure is seen as vital if the nat


Spain banking woes rattle markets

Spain's borrowing costs lurched higher and the Madrid stock market hit a nine-year low on Wednesday as investors rattled by deepening fears about its banking system fled to the relative haven of German bonds. Spain's banking woes -


Spanish bank eyes stake sale after $24bn bailout

Spain's fourth biggest lender, Bankia on Saturday prepared to sell stakes it holds in companies to meet European competition rules after a state rescue that has so far cost 23.5 billion euros. Bankia's parent company BFA asked for


European shares fall as Bankia is battered

European shares extended their losing streak on Thursday as worries over Spanish lender Bankia caused its shares to fall more than 20 per cent, hitting markets and adding to growing fears of contagion from Greece's economic crisis.  

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