DOW JONES NEWSWIRES
Spain has decided to delay the sale of troubled savings bank
Caja de Ahorros del Mediterraneo (CAM.MC) until after the country's
Nov. 20 general elections, reports Cinco Dias in its Thursday
Internet edition, citing sector sources.
Spain's Fund for Orderly Bank Restructuring, or FROB, which is
controlled by Spain's Central Bank, took over the management of CAM
in July and was planning to auction it off by the end of
October.
Among the reasons behind the decision, the paper cites the
anticipated government change, the request by the main
bidders--Banco Santander SA (STD), Banco Bilbao Vizcaya Argentaria
SA (BBVA), Banco de Sabadell (SAB.MC) and CaixaBank (CABK.MC)--for
more time to study the operation and the potential buyers' request
for a larger line of credit.
Newspaper website: www.cincodias.com
-Dow Jones Newswires; enza.tedesco@dowjones.com