There has been a lot of talk about Spain’s “bad bank” (called the Sareb), and interest from bargain hunters in its property portfolio assuming that it will dump at firesale prices, but the Spanish press reports that the healthy banks that haven’t been nationalised are selling their stocks cheaper than the Sareb. Healthy banks are selling with discounts of up to 50pc, whilst the Sareb is selling with discounts of up to 40pc.
Is it the case that Sareb are looking more at bulk sales to investment bodies (and in those cases far larger discounts will be granted)? I’ve read this recently, and would like to know the answer to this.
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