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Spain's Bankia seeks 19bn-euro bailout from government

Spain's fourth-largest bank, Bankia, has asked the government for a bailout worth 19bns euros ($24bn; £15bn).

Bankia also restated its results - now saying it made a 2.98bn-euro loss for 2011 rather than the 309m euros in profit it announced in February.

Earlier on Friday, trading in Bankia shares was suspended on the Madrid stock exchange while its management put together a restructuring plan.

Hugh Pym reports.

  • 25 May 2012
  • From the section World
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