June 7, 2017 / 7:31 AM / 2 months ago

Santander purchase of Popular is good outcome says Spanish Econ Min

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MADRID, June 7 (Reuters) - Spanish Economy Minister Luis de Guindos said on Wednesday Santander's acquisition of Popular carried out under the guidelines of the European Central Bank was a good resolution for the troubled bank.

"It's a good outcome for the bank, given the situation it had arrived at in recent weeks, as it implies maximum protection for depositors and continuity of the bank's operations," Minister Luis de Guindos said in a statement.

The operation would not involve tax payer money and avoided any credit risk contagion for Spain and its banking sector, he said. (Reporting By Sonya Dowsett; Editing by Jesus Aguado)

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