Spanish banks Santander and Caixabank and HSBC Holdings Plc have declared a 20.3 percent stake in Spanish media group and highly indebted owner of El Pais newspaper Prisa through debt-for-share swaps. According to data updated on the stock exchange web site on Wednesday, banks, also including UBS and Morgan Stanley, held a total of 28 percent of the company.The move follows a period of upheaval at Spanish media companies, three of which have changed editors in recent months amid financial difficulties due to shrinking advertising revenue.The stakes will be diluted on the back of a 100 million euro ($134 million) share issue to be taken up by Mexican businessman Roberto Alcantara, who said on July 22 he was buying a 9.3 percent stake in the media firm.($1 = 0.7475 Euros)
HSBC Holdings plc (HSBC) is a global banking and financial services organizations. Shares of HSBC traded higher by 0.44% or $0.235/share to $54.12. In the past year, the shares have traded as low as $48.86 and as high as $57.97. On average, 1328070 shares of HSBC exchange hands on a given day and today's volume is recorded at 1157887.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.13% or $0.37/share to $33.02. In the past year, the shares have traded as low as $25.25 and as high as $33.60. On average, 9473290 shares of MS exchange hands on a given day and today's volume is recorded at 4223617.
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