Lloyds sells Spanish business at a loss

euronews (in English)
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One day before reporting its first quarter results, partially nationalised British bank Lloyds has sold its unprofitable Spanish business, taking a heavy loss of almost 300 million euros.

The buyer is Spain's Banco Sabadell. As part of the deal Lloyds will get a 1.8 percent stake in the lender which is the fifth largest in Spain.

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http://www.euronews.net/

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