Madrid (ACN).- The Spanish Fund for Orderly Bank Restructuring (FROB) announced on Friday that it will re-start the auction proceedings to sell Catalunya Banc and Banc de València. The selling process for these two banks was temporarily frozen on the 21st of June, waiting for a calmer financial environment.
The FROB – which is run by the Bank of Spain and the Spanish Government – decided to put the auction on hold, in order to wait for the results of the two independent audits on Spain’s banking system made by Oliver Wyman and Roland Berger. In June, Catalunya Banc’s auction was only pending the final offers by six financial entities to be completed. In September 2011, the FROB took control of Catalunya Banc and de facto the Catalan bank was nationalised.