The FROB has taken control of Sareb, after the Government decided to take control of the bad bank given that it has to account for its debt as public debt.
The Fund for the Orderly Bank Restructuring (FROB), which previously owned 48.7% of Sareb, now holds more than 50% of the entity, specifically 51.15%. According to various media reports, between 15 and 20 shareholders have accepted the FROB’s takeover bid and sold their shares, including Bankinter, which owned 1.37% of Sareb.
Read the full article in Spanish.
