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3 years ago
Bankia compensation bill for IPO losses to be 300-500 mln euros - sources
February 2, 2015 / 2:42 PM / 3 years ago

Bankia compensation bill for IPO losses to be 300-500 mln euros - sources

MADRID, Feb 2 (Reuters) - The final bill for compensating shareholders that invested in Spanish lender Bankia's ill-fated public listing in 2011 should range between 300 million and 500 million euros ($566 million), three sources familiar with the matter said.

The sources, speaking on condition of anonymity, also said that Bankia and its main shareholder, the Spanish state, were discussing a burden-sharing agreement and that a deal would be reached "in the next few days."

However, a spokeswoman for the treasury ministry said it "would oppose anything that would cost taxpayers money".

$1 = 0.8834 euros Reporting by Julien Toyer and Jesus Aguado; Editing by Sarah White

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