Caja Madrid Rumoured to Seek Stake in Banco de Chile Edwards
According to media speculation reported by Zephus, Spain’s Caja Madrid SA may be taking a minority stake of 10% in the Chilean Bank Banco de Chile Edwards. The rumour surfaced last week.
Both companies have factoring interests in their respective countries.
Caja Madrid is joint shareholder with Banco Mapfre in Finanmadrid which, according to the Spanish Factoring Association, was the tenth largest player in the Spanish factoring market in the nine month period ended September 2001, accounting for 1.96% of total market share. The Spanish factoring market is dominated by its two largest players, BBVA Factoring and BSCH Factoring y Confirming, which accounted for almost 60% of the country’s total factored volume in the same period.
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