Breakingviews: Bankia sale good for morale, not finance
Friday, February 28, 2014 - 03:49
Feb. 28 - The Spanish Government will sell a 7.5% stake in the Bankia. It’s a testament to the country’s recovery, but Madrid will struggle to recoup the €22 bln it sunk into the lender, says Breakingviews.
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Good demand for bank vicious SPS Spanish state sells seven and a half percent. In the bank let's get breaking views take on this apt get and a song. -- -- -- -- -- -- -- -- That the sailors batch of summerall. And finance what you mean about. Yes we mean that the state is still bought very far from recouping its investment voice the -- to give the money poured into bank yet. What -- more than twenty to -- between 2012 between thirteen new members of the big drama around bank accounts -- banking system in general. European. Euros on the bailout. And spot. Priscilla through it's it's a tale about -- punish recovery investors eager to buy into the Spanish recovery. And explains why demand was crisis you know such as as expected. Second. Of course an investment into them with my kids management on. I'm the really critical steps they have taken to really take the bank of total. So the bank is improving its markets improving its rooms the situation. It has -- concluded that targets because of course the bailout came with. European conditions attached between metal targets ahead of time. I took -- the bank is we -- on track -- very sound and symbolic do you think of that the Spanish it is definitely symbolic of of what markets want to believe about paying nowadays which is. The countries take getting out of trouble on the banking system is is is getting better but they'll still risks ahead because. Part of the bank situation at the bit the bank's -- one point -- book which is the Boston and for example yesterday. As of yesterday. The risks are. It's a very amounts profits a student progress based on the territory. -- -- -- Things so when he turns around is a Spanish recoveries -- the strongest as a as a as expected the market's hitting will. When it might change and you have to remember. The current state can -- the State's stake is now worth around twelve billion Euro to fall from the 22 billion. So is good for Spanish morons -- for the banks moron it's shows that the bank is the right track doesn't mean that the Spanish taxpayers would recoup its money. What's taking a look at the that the ship -- go up on screen and Africans in that time but -- we're up a barrel I think about 29 cents. Com so far this yeah yeah I tripled tripled since last summer. We've cement it's an amazing and again to the market sentiment towards bank yeah. Has proceeded to read some place and now about the -- Jones -- sixty basis and understand and they they don't want selling what many teens know because it would be to probably ought to trouble market you know dump -- could be. Users mistakenly on the market so that the reason. They said from the beginning that would not have. More than 18% have to remained voters have to make sure that there of course because certain price and again. Conservatives -- -- -- taxpayers' money OK but just to finish with as this thoughts. The sale. A thumbs up from breaking views from what we've seen so far ransoms all. Morale and -- of symbolism in Spain that the stake is nicely saudis it is good to us the rice does not to have to traumatize market and those. -- should show that's a vote of confidence that. Overall a good corporate target yet many things that kept NASA from breaking views if you watch our USA twelve bodies and seventeen said he. GMT. And axles hopefully this is this.
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