Business tycoon Carlos Slim purchases around 100 million euros of shares in Caixabank through his financial firm Inbursa.
Caixabank, Spain’s third largest lender launched its €1.3 billion share sale last week, with Grupo Financiero Inbursa and another financial institution buying €380 million between them, reported Reuters.
Spanish insurance firm Mutua Madrilena confirmed that they were the other party and had invested €280 million, which would leave an investment of €100 million from Slim, the equivalent to a 0.75% stake in the bank.
Caixabank is trying to raise its capital reserves by selling its treasury stock, worth around 10% of its capital, to strengthen its takeover bid for Portugal’s Banco BPI.
This article was re-written in part from the original source: Reuters