The government is taking steps to start selling
part of its 68 percent holding in Bankia, but will maintain
control. Economy Minister Luis de Guindos told Reuters this week
that small stakes could be sold during the year before a bigger
sale in the medium-term.
Bankia was Spain's biggest bailed-out bank, at the height of a
deep financial crisis that almost sent the country into default,
and new private investment in the lender will help cement a
Spanish financial and economic turnaround.
Bankia took 18 billion euros out of a 41 billion euro
European-financed rescue of Spain's financial system, and
returned to profit last year after a record loss of 19.2 billion
euros in 2012.
In a statement, the FROB said seven investment banks had
submitted bids for the advisory job.
Several Spanish banks — including Santander <SAN.MC> and Popular
<POP.MC> — have publicly expressed their interest in
participating as bookrunners if FROB decides to place Bankia
shares in the market.
Bankia President Jose Ignacio Goirigolzarri said recently that
investors were interested in buying into the bank.
(Writing by Fiona Ortiz)
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