Spain takes control of fourth-largest listed bank
The Spanish state will take control of the fourth-biggest listed bank, Bankia, the government says, as it races to shore up the bank's bad loan-ridden balance sheet.
The state will take a 45-per cent stake by converting a state-backed loan of 4.465 billion euros ($A5.77 billion) into shares, "meaning it will take control", the economy ministry said in a statement on Wednesday.
Prime Minister Mariano Rajoy's conservative government, which swept Read more [...]