Spainâs largest bank buys failing rival for only â¬1
Spainâs largest bank Santander will buy rival Banco Popular for just â¬1 (â¹72) after EU authorities declared the lender âfailing or likely to failâ. Popular shares dropped by 50% last week amid its struggles with billions of euros in bad real-estate loans. Santander's rescue of Popular is the first wherein European Central Bank determined that a eurozone lender is failing. 