Want to buy the good assets of a failed European bank on the cheap, with some state aid thrown into the bargain? Then don’t delay, there’s a once-in-a-lifetime opportunity today.
That seems to be the unpalatable conclusion from a trio of distressed acquisitions in the EU in recent weeks – the purchases of Banco Popular by Santander in Spain, plus Banca Popolare di Vicenza and Veneto Banca by Intesa Sanpaolo in Italy.
Popular was sold for one euro overnight through a resolution process managed
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