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BFA-Bankia Chairman Jose Ignacio Goirigolzarri said the bank does not expect to turn preference shares into capital and that the entity is still working on a plan for the instruments.
“We don’t forecast that the solution will be to turn them into capital,” he told a briefing to reporters today in Madrid. “We’re working on it and we want it to be as soon as possible, and before the shareholders’ meeting on June 29.”
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