Spain extends deadline to sell stake in Bankia until Dec 2023

The Spanish government has extended until December 2023 its deadline to offload its stake in Bankia, the Spanish government spokeswoman Maria Jesus Montero said on Tuesday. The government had currently until 2021 to sell the 61.8% it holds in Bankia.

The Spanish government has extended until December 2023 its deadline to offload its stake in Bankia, the Spanish government spokeswoman Maria Jesus Montero said on Tuesday. The government had currently until 2021 to sell the 61.8% it holds in Bankia. The bank is in the process of being taken over by larger rival Caixabank.

Following the merger, the stake of Spain's banking bail-out fund FROB would shrink to 16.1% in the merged entity.