Spain's market regulator has suspended trading in Bankia shares ahead of a crunch meeting where the lender is expected to ask the government for around €15bn to stay afloat.
The market regulator CNMV said trading has been halted due to a concurrence of issues which could affect the normal exchange of the bank's shares. Shares in Bankia's parent company, Banco Financiero y de Ahorros (BFA), have also been frozen. The bank's share price has already plunged after it went to the government earlier this month for emergency funding. Over the past year, it has fallen 58%, and currently stands at €1.57. The Spanish government has already pumped €4.5bn into the bank through state loans, in an attempt to avert a meltdown, but this latest capital injection is nee...
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