MADRID (Reuters) – Economy Minister Nadia Calvino has told the Expansion newspaper that the Spanish government does not intend to sell its stake in Caixabank.
“We have, on the horizon, no plan nor any intention to divest the state’s stake,” Calvino said in an interview with the Spanish newspaper published on Monday. “It is a very well managed lender,” she added.
Following a merger between Caixabank and smaller rival Bankia, the government was left with a 16.12% stake in Caixabank, Refinitiv data showed.
Prior to the takeover, officials had repeatedly said the government intended to sell its stake in Bankia.
(Reporting by Inti Landauro and Tomas Cobos; editing by Jason Neely)
