Skip to comments.Bankia SA : Spain's Bankia shares suspended: regulator (Spain's Largest Bank!)
Posted on 05/25/2012 12:18:01 AM PDT by tcrlaf
Trading in the securities of Spanish lender Bankia has been suspended "due to circumstances that may affect the normal share trading," stock market regulator CNMV said on Friday.
Bankia will ask the state for more than 15 billion euros ($19 billion) to bail it out when its new management team presents a restructuring plan on Friday, a financial sector source said late on Thursday.
Could we wake up to BLACK FRIDAY 2012? Do already skittish traders want to get stuck holding over a long weekend?
It was reported in US media yesterday that Bankia was going to need a 9 Bil Recapita;ization (Bailout), this morning’s breaking news is that it needs $19 Billion to stay afloat.
Spain’s IBEX is up at this moment, so this does not seems to affect the markets over there.
Bankia is Spain’s fourth-largest bank, not its largest.
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