Bankia shares slide on ‘negative value’ assessment

“Shares in Bankia have slid almost 20% after Spain’s bank rescue fund said the troubled lender had a negative value of -4.2bn euros (£3.4bn; $5.6bn).

Bankia’s parent company, BFA, which is being bailed out, was deemed to be worth -10.4bn euros.

The assessments suggest losses on bad loans are even worse than expected.”

Source:BBC News – Bankia shares slide on ‘negative value’ assessment

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