May 24 (Bloomberg) -- Caja Mediterraneo, Grupo Cajastur, Caja Extremadura and Caja Cantabria submitted a plan to the Bank of Spain that would see them merge their risk control, treasury, credit assessment and compliance functions, creating the fifth- largest lender in Spain with more than 135 billion euros in assets, Caja Mediterraneo said in an e-mailed press release. http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aaEipNlpKWJ8 Ole !
1) Tapas! Sangria! 2) Bank mergers tend to be bearish. Even more so when there are more than two entities involved. :eek:
The holy grail of any serious financial market player must now be: Become Too Big To Fail or Too Integrated with Counter Parties on opaque derivatives To Fail
zerohedge story: http://www.zerohedge.com/article/failed-cajasur-fallout-accelerates-4-spanish-savings-banks-merge