RE: Acquisition of Banco Popular7 Jun 2017 15:29
Interesting development in rescuing a failing bank in the EU :-
"This deal is good for Spain and it's good for Europe," Santander chairman Ana Botin said of the agreement, which breaks the mold of using taxpayers' money, instead imposing losses on shareholders and creditors of the bank.
The sale was organized in less than 24 hours, and followed a recent acceleration in the withdrawal of deposits, which two people with knowledge of the matter said had in recent weeks hit 18 billion euros, equivalent to almost one quarter of the total.
What about due diligence ?
Markets calm at the moment ?