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Serfin' USA

11 December 2002 By John Paul Rathbone

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Serfin' USA

11 December 2002 By John Paul Rathbone

Emilio Botin has lost none of his dealmaking skills. He is selling SCH s 25% stake in Serfin to Bank of America for a juicy premium. But the strategy is harder to fathom. The deal gives SCH access to the Hispanic market, yes, but lets a monster US bank in its back door.

This content is for Subscribers only

 

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