Spain not selling its stake in Caixabank; Economy minister.

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The Spanish government will not sell its holding in Caixabank, according to Economy Minister Nadia Calvino, who spoke to the Expansion daily.

“We have, on the horizon, no plan nor any intention to divest the state’s stake,” Calvino said in an interview with the Spanish newspaper published on Monday.

“It is a very well managed lender,” she added. According to Refinitiv statistics, the government now owns 16.12 percent of Caixabank following the merger of Caixabank with smaller rival Bankia.

Officials had stated repeatedly before to the acquisition that the government intended to sell its Bankia holding.

Story by : Norvisi Mawunyegah