Spanish Economy Minister Luis de Guindos spoke in an interview with newspaper ABC on Sunday

Said the government is exploring selling off another package in the bank in September

  • Of around a further 7%

By increasing the proportion of publicly traded shares, Bankia could prove more attractive for institutional investors, de Guindos suggested.

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In June, Bankia, Spain's fourth largest bank, approved a merger with mid-sized bank BMN, which is also partially state owned.

  • The deal is to be confirmed in September at a shareholder meeting. If the merger is approved, it will leave the state with 66.56 percent of the new entity, while Bankia shareholders and BMN shareholders will hold 33.1 and 2.33percent of shares, respectively.

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