MADRID, September 23 (Reuters) - Spanish unlisted savings bank Caja Madrid has cut its stake in Bankinter to 3.05 percent from the 4.68 percent it held at the end of May, a spokeswoman said on Wednesday.
Caja Madrid, Spain's second largest savings bank, booked just over 41 million euros ($60.59 million) from the sale of the shares, the spokeswoman added.
The deal came a day after Bankinter completed a 361.4 million-euro capital hike, which was to pay for the half of the Spanish unit of Direct Line Insurance it did not already own.
Caja Madrid subscribed to the capital hike at the end of May to maintain its 4.68 percent stake. It said its stake in Bankinter was 'financial' and not 'strategic.'
($1=.6767 euros)
(Reporting by Jesus Aguado; Writing by Judy MacInnes; Editing by Greg Mahlich) Keywords: SPAIN BANKS/ (judith.macinnes@thomsonreuters.com; 34 91 585 8340; Reuters Messaging: judith.macinnes.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Caja Madrid, Spain's second largest savings bank, booked just over 41 million euros ($60.59 million) from the sale of the shares, the spokeswoman added.
The deal came a day after Bankinter completed a 361.4 million-euro capital hike, which was to pay for the half of the Spanish unit of Direct Line Insurance it did not already own.
Caja Madrid subscribed to the capital hike at the end of May to maintain its 4.68 percent stake. It said its stake in Bankinter was 'financial' and not 'strategic.'
($1=.6767 euros)
(Reporting by Jesus Aguado; Writing by Judy MacInnes; Editing by Greg Mahlich) Keywords: SPAIN BANKS/ (judith.macinnes@thomsonreuters.com; 34 91 585 8340; Reuters Messaging: judith.macinnes.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.