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

Published 06/06/2017, 16:52
Updated 06/06/2017, 17:00
© Reuters. FILE PHOTO: People walk past a branch of Spain's Banco Popular in Madrid
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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 (MC:POP), 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."

© Reuters. FILE PHOTO: People walk past a branch of Spain's Banco Popular in Madrid

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.

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