Bloomberg News

Unnim May Be Sold to Popular, Ibercaja This Week, Expansion Says

February 28, 2012

Unnim, the banking group taken over by the central bank last year, may be sold this week with Banco Popular Espanol SA (POP) and Ibercaja favorites to win the auction, Expansion reported.

Banco Santander SA (SAN) and Banco Bilbao Vizcaya Argentaria SA (BBVA) made less aggressive bids for the lender while Bankia SA and JC Flowers & Co. withdrew from the contest, the newspaper said, citing people in the market without identifying them.

To contact the editor responsible for this story: Ben Sills at bsills@bloomberg.net


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