Negotiations to nationalize Banco de Venezuela expected to end successfully

CARACAS, Thursday May 14, 2009
Negotiations to nationalize Banco de Venezuela expected to end successfully

Emilio Botín, the President of the Spanish group Banco Santander is confident that the discussions with the Venezuelan government to sell their branch in Venezuela "end satisfactorily." However, he avoided setting the date when negotiations can be concluded.

Botín answered to the questions from reporters in the northern city of Santander about the announcement made on Wednesday by Venezuela's President Hugo Chávez, who said that on May 22nd, both parties "must be signing a global document" with the agreement reached with Spain-based Grupo Santander to nationalize Banco de Venezuela, Efe reported.

"We are now negotiating with the government of Venezuela. I expect that everything will end satisfactorily," said Botín. The president of the bank recalled that the talks began in August last year.

President Chávez announced the nationalization of the Santander branch on July 2008. Since then, Chávez has announced different dates to complete the talks.

http://english.eluniversal.com/2009/05/14/en_eco_esp_negotiations-to-nati_14A2329525.shtml
opposition newspaper