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Novacaixagalicia will find the sale of unlisted assets complicated, according to a study carried out by GBS Finance

09/02/2011 -Xornal de Galicia

According to a study carried out by GBS Finance, entities such as Novacaixagalicia have a portfolio of holdings in which they have a minority share. The difficulties in divesting these minority participations arise from the fact that the market is anticipating an even further fall in prices and is, therefore, expecting the prolongation of the bidding period. Additionally, according to GBS Finance, “the Spanish savings banks have several particpations with political interests, linked to the region, many with low profitability”