|Bid||353.30 x N/A|
|Ask||353.70 x N/A|
|Day's range||352.25 - 358.10|
|52-week range||343.65 - 450.75|
|Beta (3Y monthly)||0.54|
|PE ratio (TTM)||N/A|
|Forward dividend & yield||0.20 (5.28%)|
|1y target est||N/A|
Fridman’s hostile bid for struggling Spanish grocer Distribuidora Internacional de Alimentacion SA won shareholder approval earlier this month. When DIA said in December it needed shareholders to stump up 600 million euros ($669 million) to cut debt, Fridman refused to bail out the discredited management team.
“Finally the Chairman of LetterOne has committed to work to eliminate the discrimination between bondholders and banks of DIA,” Santander Chairman Ana Botin said on Twitter. LetterOne had been pushing for weeks to clinch support from banks to green-light its restructuring plan for DIA, as the grocer is known.
The ECB is among bondholders that may be forced to take losses as a condition for Banco Santander SA to let Mikhail Fridman’s LetterOne investment fund recapitalize Distribudora Internacional de Alimentacion SA. The Bank of Spain bought DIA’s notes in 2016 as part of the ECB’s corporate bond purchase program. Santander opposes LetterOne’s plan because it prioritizes bondholders over bank lenders, people familiar with the matter said this week.
“In terms of senior visible executives, I actually think the asset management industry is doing quite well,” Lord, who’s head of Europe, Middle East and Africa at BlackRock, said during a panel discussion at the Bloomberg Equality Summit in London on Thursday. Investors are almost all “male, white, British,” she said at the summit held at Bloomberg’s European headquarters.
Santander is aiming to close 1,150 branches in Spain and cut just over 3,700 jobs, or around 11 percent of its workforce in the country as it integrates Banco Popular, unions said on Tuesday. "This reduction will mainly affect the commercial network and its intermediate support structures, although it will also affect the principal offices," Spanish union Comisiones Obreras said in a statement. Santander declined to comment.
Santander is aiming to close 1,150 branches in Spain and cut just over 3,700 jobs, or around 11 percent of its workforce in the country as it integrates Banco Popular, unions said on Tuesday. Since the financial crisis in 2008, the number of branches in the Spanish banking sector has declined by more than 40 percent while the number of employees has shrunk by more than 30 percent.
MADRID (AP) — A Saudi cargo ship that Spanish arms control groups suspect is carrying European weapons for possible use in Yemen left the port of Santander on Monday and sailed for Genoa, Italy.
Asto, the Santander-owned "upstart" developing financial tools for freelancersand SMEs, is adding invoice financing to its bookkeeping app
The chairman of the board of the Mexican unit of Spanish bank Santander, Marcos Martinez Gavica, will leave his position, the bank said in a statement on Thursday. Martinez Gavica has been with Santander for over two decades, the statement added, noting that the executive will stay in his current post through April of next year. Santander last month offered to take full control of its Mexican business through a 2.6 billion euro (2.23 billion pounds) all-share deal as it chases potentially higher returns in Latin America.
The Santiago, Chile-based bank said it had earnings of 39 cents per share. The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research ...
The bank, based in Madrid, said it had earnings of 12 cents per share. The financial holding company posted revenue of $13.72 billion in the period. Its revenue net of interest expense was $13.72 billion, ...
Banco Santander SA relied on its increasing commitment to fast-growing Latin American markets to make up for sluggish European units that weighed on first-quarter profit. Net income fell 10 percent, hit by a charge of 108 million euros ($121 million) for restructuring in the U.K. and Poland as well as an inflation-adjustment expense in Argentina. The shift toward the Americas is likely to continue, with Santander announcing earlier this month that it will boost investment in Latin American businesses to offset a weak economy in Europe.
By Jesús Aguado MADRID (Reuters) - Santander reported a 10 percent fall in first-quarter net profit on Tuesday as restructuring costs in Britain and Poland hurt the bank's results. The euro zone's biggest ...
Santander is planning to undertake branch reductions in Spain as part of the integration process with Banco Popular and would begin talks with unions next Monday, its chief executive officer said. "We will start the negotiation process with the unions next Monday. As part of its focus on efficiency in Europe, Santander said earlier in April it was expecting 250 million euros (£215 million) of additional cost savings in Spain due to the integration of Popular to boost its underlying profitability.
Santander reported a 10 percent fall in first-quarter net profit on Tuesday as restructuring costs in Britain and Poland hurt the bank's results. The euro zone's biggest bank by market value reported net ...
France's Credit Agricole and Spain's Santander plan to combine their custody and asset servicing operations, in a deal that could point the way for European banks to achieve scale without the complexity of a full merger. The new business will have around $3.8 trillion (£2.9 trillion) of assets under custody, closing the gap on European leaders and providing scope for savings and cost reductions. Credit Agricole will own 69.5 percent of the merged unit, which will keep the brand name of Agricole's existing asset management arm - Caceis.
* European stock futures little changed * Asian stocks swing up after China data * China's Q1 growth unexpectedly steadies April 17 - Welcome to the home for real-time coverage of European equity markets ...
* European stock futures open little changed * Asian stocks swing up after China data * China's Q1 growth unexpectedly steadies Welcome to the home for real-time coverage of European equity markets brought ...
State-run oil company Petroleo Brasileiro SA has hired nine banks to manage an offering of shares in its fuel distribution unit Petrobras Distribuidora SA, three sources with knowledge of the matter said. The offering will be led by the investment banking units of JPMorgan Chase & Co and Citigroup Inc, along with the investment banks owned by Itau Unibanco Holding SA , Banco Bradesco SA, Bank of America Corp , Credit Suisse Group AG, Banco do Brasil SA , Banco Santander Brasil SA and HSBC Holdings Plc.
The bank infuriated many of its debt-holders back in February, when it chose to break an established convention and not redeem (or “call,” to use the industry parlance) a similar 1.5 billion euro note, known as a perpetual contingent convertible (or CoCo for short). There has also always been an unwritten rule – in Europe, at least – that they would be called by the issuer on or before their expected redemption date, offering investors some certainty. Given all of this, some market commentators are interpreting Santander’s decision this week to call a separate $1.5 billion (dollar-denominated) CoCo as some kind of olive branch to debt investors.
SANTANDER, Spain/MEXICO CITY (Reuters) - Santander has offered to take full control of its Mexican business through a 2.6 billion euro (£2.3 billion) all-share deal as the Spanish bank chases potentially higher returns available from Latin America. The deal proposed on Friday, which was broadly welcomed by analysts but described as "oppressive" by a major investor, will unwind Santander's listing of 25% of the bank on the Mexican stock exchange in 2012. While record-low interest rates have prevailed across the euro zone for the past 10 years, benchmark rates in Mexico stand at 8.25%, the highest since the 2008 global financial crisis.
Banks and the auto sector were the biggest boosts to the benchmark on the day. Italy's MIB led gains in the region with its 0.8 percent rise, having hit an eight-month high earlier the session, while German shares closed up 0.5 percent. Data showed that China's exports rebounded to a five-month high in March, but imports shrank for a fourth straight month and at a faster pace, painting a mixed picture of the economy.