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Basque in the revenge

30 November 2004

Why would a smallish Spanish construction company buy a small stake in a bank 14 times its size, increasing its capital by a third to do so? Some scent a plan to oust BBVA’s chairman. Given the bank’s good performance, that looks a reckless move. Why would a smallish Spanish construction company buy a tiny stake in a bank 14 times its size, increasing its capital by a third to do so? Some scent a plan to oust BBVA’s chairman. Given the bank’s good performance, that looks a reckless move.

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