Spain's Banesto shares resume trading sharply higher
MADRID (Reuters) - Spain's Banesto BTO.MC resumed trading up 23 percent at 3.6 euros ($4.72) per share on Monday after parent company Santander (SAN.MC) said it would absorb the smaller lender.
Trading in both Banesto and Santander was suspended before the market opened on Monday after Santander said it would merge with Banesto, in which it already owns almost 90 percent
Santander said it valued Banesto shares at 3.73 euros per share, 24.9 percent more than the closing price on Friday.
Santander was trading down 1 percent at 5.84 euros per share.
($1 = 0.7628 euros)
(Reporting By Paul Day; Editing by Jesus Aguado)
- White House reverses, says Obama met uncle and lived with him during law school
- South Africa mourns Mandela, will bury him on December 15 |
- RPT-UPDATE 1-Ford leans on global Mustang to burnish overseas image
- Flights delayed as air pollution hits record in Shanghai
- Microsoft leads disruption of largest infected global PC network