December 13, 2012 / 9:01 AM / 5 years ago

Small Spanish bank BMN says Spain to take majority stake

MADRID, Dec 13 (Reuters) - The Spanish government will inject capital into small, unlisted lender Banco Mare Nostrum (BMN) and take an over 50 percent stake in the bank, a BMN spokesman said on Thursday.

“We don’t know the exact amount yet but it will easily be more than 50 percent and it will be a direct capital injection,” the spokesman said.

The plans of BMN, with total assets close to 70 billion euros ($91 billion), to fund a capital shortfall had included an injection of temporary state aid resulting in a minority government stake. ($1 = 0.7669 euros) (Reporting By Sonya Dowsett; Editing by Tracy Rucinski)

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