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position its subsidiary as the leader in retail banking in Spain Banco Santander is already working on an offer to bid in the auction for the Caja de Ahorros del Mediterráneo. Emilio Botín seeks to avoid the penalty of the markets with a purchase of the Alicante savings bank led by Banesto. The operation would also allow the subsidiary to be placed among the largest financial groups in the country. As El Confidencial Digital has learned from financial sources, Botín has made this decision after listening to the advice of investment banks, which did not advise him to articulate the purchase of CAM through Santander . They consider that the operation, which will strengthen the position in Spain of the winner of the bid, may penalize the entity in international markets . An acquisition of the Mediterranean Savings Bank would contradict the strategy of international diversification of its profits. Furthermore, its identification with Spain would harm it when most of its results are generated outside the country. They advise Emilio Botín to present the bank as a multinational group .
However, the purchase through Banesto does seem logical. It is a domestic entity , with no activity outside of Spain, so it is considered that it makes strategic sense to present an offer through this subsidiary of Banco Santander to consolidate it as the undisputed leader in retail banking . The Bank of Spain's advisor on the UK Mobile Number List operation, Bank of America Merrill Lynch , is already distributing the sales notebook to potential buyers with the aim of them submitting non-binding offers by the end of September. According to the sources consulted, the size of the CAM and its problems mean that only the largest financial entities in Spain with sufficient capital strength and capacity to access financial markets can take it on, especially if the decision of Elena Salgado and Miguel Ángel Fernández Ordóñez not to chop it up.
Furthermore, in a context of market volatility , any of the large Spanish banks that decide to take a step forward must measure their movements very well so as not to scare away investors and cause damage to the parent company greater than the benefit obtained with the absorption. of the Alicante box. Its results for the first half of the year, with losses of more than 1.1 billion euros and a default rate of 19% , once again fuel fears about the health of savings banks with problems in Spain.For them she pays two mortgages: worth 214,050 euros , for the apartment (she has 171,200 euros left to pay), and 385,000 euros for the second (245,800, pending payment). -- Alfonso Guerra (PSOE) : he owns two properties as joint property with his wife, but does not reach the minimum of 700,000 euros. -- Gaspar Llamazares (IU) : he has 303,058 euros divided between a savings book (17,071 euros), investment funds (83,487 euros) and time deposits (202,500).
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发表于 2024-3-12 14:23:36