The Spanish property sector is heating up, following the controversy surrounding Metrovacesa and the takeover bid being forced on Bami by the Spanish stock market watchdog. Yesterday, the focus switcehd to Urbis, the property company owned by Spanish bank Banesto, which holds a 51% stake, and Dragados, which owns 20%. Rumours that Banesto and Urbis plan to merge have increased in recent days and Urbis shares closed 3.37% up as a result. Banesto has denied the rumours, saying it is not interested in selling its stake in the company.
Expansion, 22 May 2003, p7
