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Spanish bank buys Sovereign stake

$2.4b deal will fund N.Y. buyout and may upset some investors

By Sasha Talcott
Globe Staff / October 25, 2005

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Sovereign Bancorp said yesterday that it had struck a $2.4 billion deal to sell a nearly 20 percent stake in its operations to Spain's Banco Santander Central Hispano , and that the Spanish bank will have the option to buy all of Sovereign in 2008. (Full article: 915 words)

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