Santander Bank - Shareholders

[Green Goose]

Many people will own Santander shares as a result of the take-over of Abbey National some years ago. So today's news that Santander has been leaned on to take over the failing Popular Bank is not good news.

This enforced take-over has come about as a result of a directive from Brussels (under their SRB policy) as a means of avoiding a state bailout. Even though this is a problem with a Spanish bank, the govt there cannot step in financially because of the EU. This is very similar to Lloyds being leaned on by Gordon Brown to take over HBOS and as we all know it put Lloyds under govt control in the end.

Existing shareholders of Santander will be faced with a cash call to the tune of ?6.1 Bn. More may needed to be raised later.

Just shows how all-pervading Brussels control can be. I sold my A.N. shares years ago so I just wish remaining Santander share owners in the UK the best of luck.

[Borky]

*shakes fist at sky*

[red devil]

*Scratches arse and goes back to reading Ulysses...*