| At first sight Spain’s lucrative privatization programme seems to be over. Spain has provided nearly Pta4 trillion ($24.2 billion) in privatization receipts since 1996, making it Europe’s largest and most dynamic sell-off of state assets. With the exception of airline Iberia, state privatization agency Sepi has emptied its portfolio of large public companies. Now, though, it looks as if another Pta10 trillion or so of work for investment bankers may be waiting in the wings. |
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