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Spain's BFA bank says to keep Banco Valencia stake

Source: Reuters - Tue 22th Feb 2011

Spain's Banco Financiero y de Ahorros (BFA), the new merged group of savings banks led by Caja Madrid and Bancaja, said on Tuesday it plans to keep its stake and voting rights in Banco de Valencia.

BFA recently announced plans to seek a stock market listing to strengthen its core capital in line with the requirements of the Spanish government's new bank law.

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