Spain Lottery Loan May Be Stepping Stone To IPO, Say Experts

Nineteen of Europe’s biggest banks, including Barclays and BBVA, have bid to be part of a €1.5bn loan to Spain’s national lottery, but experts say the real prize is a role in any future privatisation of the monopoly.

Spain’s state-owned lottery operator (SELAE) announced last week that ten foreign and nine Spanish banks had filed bids worth €4.3bn — almost three times what the syndicated loan is budgeted to raise.

To continue reading

Take a Trial