Banco Santander sold some 910 million euros

He sold the Chilean group CorpBanca by 1,225 million dollars (about 910 million euros).

The transaction Spanish financial group generated a profit of 615 million euros.

Banco Santander in the Latin American country has a workforce of around 1,400 employees and a network of 78 offices.

The Banco Santander sold Banco Santander Colombia and its subsidiaries in the country the group CorpBanca Chile by 1,225 million dollars (about 910 million euros), which Spanish financial group generated a profit of 615 million euros.

The Santander Group has informed the National Securities Market Commission (CNMV) has reached agreement with Corp Banca to sell business units in Colombia.

Banco Santander in the Latin American country has a market share of 2.7 percent in credit and resources, with amounts of 2,100 and 3,200 million euros, respectively, a workforce of around 1,400 employees and a network of 78 offices.

The transaction is expected to close in the first half of 2012 and is subject to obtaining regulatory approvals and a delisting tender offer aimed at the minority shareholders, owners of 2.15% of the bank's capital.

Businesses affected by the transaction (Banco Santander Colombia and the group's subsidiaries in that country) in 2010 reached a profit of $ 54 million, 0.5% of the total benefit of Grupo Santander.

The Santander Group to strengthen its balance the gains on the sale of Banco Santander Colombia and its other subsidiaries, amounting to 615 million euros.

European shares fall to minimum annual

The European stock markets have suffered a debacle this Thursday . With a lowered average of 4% , all the great places recorded the worst losses of the year.

Pressured by the debt market , the tibia , in the opinion of investors, intervention of the president of the European Central Bank , Jean-Claude Trichet, the fall of Wall Street and fears the worsening U.S. economy , the stock ended at the minimum exercise.

Thus, Frankfurt has dropped the 3.4% and back to levels of last October , while London has fallen 3.43% and prices is in September 2010 .

Paris has given 3.9% to levels of last July , while Milan has lost 5.16% and goes back to April 2009 , while the stock Spanish has lowered 3.89% and is at levels of last June .

U.S. and ECB waving a quiet day

The day was relatively quiet . In the morning the Spanish risk premium relaxed to 360 basis points. The Treasury successfully solved the auction of the medium term , which placed 3,300 million.

But within hours of the close of the session, Trichet assured that they will continue to monitor developments in inflation without making concession whatsoever to the debt problems of many European countries. And we began the descent .

Then the Dow Jones began his day with a drop of more than 2% , dragging the European markets since then they met some reports indicating a slowdown in the U.S. economy.

Statements

There followed the policy statements on issues of markets. The European Commission president , Jose Manuel Durao Barroso , called for extension of the rescue fund and warned of the possibility that the crisis of the debt is spreading to more countries .

The Prime Minister, José Luis Rodríguez Zapatero , praised the auction of debt and analyzed the involvement of Trichet, while considered " essential "that the agreements of the eurocumbre the July 21 early implementation .

The People's Party called for early elections would be convened before November 20 .

In Italy, whose debt differential with Germany rose to 389 points, the prime minister, Silvio Berlusconi stressed the solidity of the Italian economy.

Meanwhile, the euro fell from 1.435 to 1.41 dollars.