GEORGE Soros bets on Spanish Bank

06/22/2014 17:59

George Soros bought just under 1% of small Spanish lender Liberbank during its recent rights issue, a source familiar with the deal said on Thursday, the latest investment by the U.S. billionaire in the country's recovering banks.

Liberbank, which took rescue funds during Spain's financial crisis, in June completed a 475 mln Euro capital hike, so it can repay the aid and bolster its finances.A recovering economy in Spain, which exited recession in the second half of 2013, is slowly feeding through to banks and many believe the worst of the property slump has passed.