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Bank of Spain head says not prepared to answer questions on Banco Popular
June 6, 2017 / 3:51 PM / 6 months ago

Bank of Spain head says not prepared to answer questions on Banco Popular

MADRID, June 6 (Reuters) - The Bank of Spain’s head said on Tuesday he was not prepared to answer questions about the situation of troubled Banco Popular, which is running out of time to find a buyer before a self-imposed June 10 offer deadline.

Asked about Popular’s situation, Luis Maria Linde told Spain’s Senate: “It’s simple, now is not the time. I haven’t come prepared for that.”

Popular’s shares have fallen over 50 percent during the last week on concern it would not be able to fulfil its stated plan to either find a buyer or raise new capital, and could face being wound down. (Reporting by Sarah White; Writing by Angus Berwick; Editing by Julien Toyer)

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