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Report: Citi, UBS to manage Santander's €7 billion capital increase

Citigroup and UBS have been chosen to manage Banco Santander SA's €7 billion capital increase, which is linked to its acquisition of troubled Spanish lender Banco Popular Español SA, Europapress reported June 8, citing market sources.

Santander said the previous day that it was buying Banco Popular for the symbolic sum of €1 and that it would launch a €7 billion rights issue to bolster the ailing lender's balance sheet.