Santander Buys Spain’s Banco Popular For Price of Hotdog by zeroshiki

money · @zeroshiki · Jun 7 '17

$0.11

Santander Buys Spain’s Banco Popular For Price of Hotdog

https://cointelegraph.com/images/725_Ly9jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy8wNjA0YzRhODBkNTA1ZjRmOWQ2ZDM4Y2Y4YjVjYzA2ZS5naWY=.jpg

Santander has bought out ailing Spanish bank Banco Popular for one of the lowest-ever nominal sums of just €1.

Popular, which has suffered from overbearing expenses especially from its real estate business, saw its share price drop considerably over the past year.

Speaking to Bloomberg following the announcement, Santander chairman Ana Botin said the takeover was “great news for Europe.”

Read more here: https://cointelegraph.com/news/santander-buys-spains-banco-popular-for-price-of-hotdog

👍 gurunayak, ptytrader, bones, sabritoumi, jegatx, brianadams, crawfish37, greencrypto, cleateles, etcbits, zeroshiki, benjamin.still, gaissa, mangomonk, funkit, bosjaya

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@floridanow · Jun 7 '17

it was collapsing....they had to stop the domino effect

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@ptytrader · Jun 7 '17

Wow what is going to happen in the US if this was a buyout for Citibank. They will need to fin many #cryptoeconomy tenants for its buildings

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