Goldman pulls out of Santander and BBVA after ‘witching hour’

Gone in the blink of an eye. Goldman Sachs communicated through forms CNMV which no longer has 7.4% of Santander bank Y BBVA. Therefore, he ceases to be a significant shareholder in both banks according to the criteria of the presiding supervisor Rodrigo Buenaventura, which lumps brokers and end-users of shares into the same bag as investors in cash or via derivatives.

Goldmann disappears from the shareholder map published by the CNMV cause of maturity of the majority of its portfolio of financial derivatives which died out on December 16 during the so-called ‘witching hour’, as ‘La Información’ advanced. Now he announced it through the same channel he used to mark it controlled 7.4% in both banksa percentage equivalent to approx 6,000 million euros if it was in actions.

According to the new record, Goldman reduced its position in Banco Santander from 7.4% to 0.6%Meanwhile in BBVA decreases from 7.4% to 1%. In both cases, there was no mass sale of shares, the financial instruments that gave her the possibility to participate simply ceased to exist. However, the CNMV does not oblige institutional investors to clarify these points.

Sources at Goldman told ‘La Información’ that it was “only buyer positions and a trading portfolio” and was forced to notify the CNMV to comply with Spanish regulations. The supervisor obliges brokers to publicly disclose their participation in the company if they control more than 5% of the capital, even if it is their trading portfolio or they act only on behalf of their clients. Usually, as is the case, only a small part of the investment belongs directly to the intermediary

The same phantom presence in Iberdrola

In the same way as in Santander and BBVA, the American broker announced last week that it controls a little more than 6% of electric iberdrol with derivatives, the percentage estimated at the equivalent of shares at more than 4,200 million euros. However, Goldman’s presence will disappear, just as the two banks did, as just over 2.1% of derivatives (options and futures) expired last Friday and are no longer in existence.

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