Spain tells state-held lenders Bankia, BMN to begin merger process

Spain’s bank bailout fund, the Frob, told nationalised lenders Bankia (BKIA.MC) and Banco Mare Nostrum (BMN) on Wednesday to begin a process to merge the two banks, the best option to recover public cash used to bail them out.

Sourced through Scoop.it from: uk.reuters.com

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