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Bank of Spain head says not prepared to answer questions on Banco Popular
June 6, 2017 / 3:52 PM / 4 months ago

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

FILE PHOTO: People walk past a branch of Spain's Banco Popular in Madrid, Spain, May 26, 2016. REUTERS/Andrea Comas/File Photo

MADRID (Reuters) - The Bank of Spain’s head said on Tuesday he was not prepared to answer questions about the situation of troubled Banco Popular POP.MC, 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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