Banco Popular shareholders seek Santander info to fight Spain [Reuters]
Barclays PLC (BCS)
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Source: Reuters
Banco Popular shareholders seek Santander info to fight Spain | Reuters 4 Min Read LONDON, March 6 (IFR) - Former shareholders in Banco Popular, which was sold for €1 to Santander last June after being put into resolution, have opened up two fresh fronts in their battle to seek compensation for their losses. A group, led by Mexican billionaire Antonio del Valle, the Spanish lender’s biggest investor, filed an application on Monday in the US federal district court for the Southern District of New York asking Santander to reveal information regarding its purchase of Banco Popular. As part of this, the investors have also filed a letter of January 22 to Spain’s prime minister Mariano Rajoy outlining their claims against the country under the 2006 bilateral investment treaty it has with Mexico. They say Spain’s actions, through its bank rescue fund FROB, in resolving Banco Popular without considering other options, such as a capital raising or a less distressed sale, was arbitrary and mea
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