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Serfin Financial Group

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BUSINESS
May 9, 2000 | CHRIS KRAUL, TIMES STAFF WRITER
Spain's biggest bank, Banco Santander Central Hispano, won the bidding Monday for Mexico's troubled Grupo Financiero Serfin, paying an unexpectedly high price that reflects improved investor confidence in Mexico's banking system and brighter prospects for its economy overall. The deal opens up a new front in the invasion of Latin American banking turf by Spanish banks, led by Santander and Banco Bilbao Vizcaya Argentaria.
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BUSINESS
May 9, 2000 | CHRIS KRAUL, TIMES STAFF WRITER
Spain's biggest bank, Banco Santander Central Hispano, won the bidding Monday for Mexico's troubled Grupo Financiero Serfin, paying an unexpectedly high price that reflects improved investor confidence in Mexico's banking system and brighter prospects for its economy overall. The deal opens up a new front in the invasion of Latin American banking turf by Spanish banks, led by Santander and Banco Bilbao Vizcaya Argentaria.
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BUSINESS
July 9, 1999 | JAMES F. SMITH, TIMES STAFF WRITER
The government Thursday seized control of the country's third-largest bank, saying it will clean up and sell the struggling Serfin Financial Group in the latest chapter of Mexico's four-year bank bailout saga. The government acted after shareholders met earlier in the day and decided not to pump in the $1.3 billion of fresh capital required to keep Serfin viable. The government then announced it would put up that money rather than let Mexico's oldest bank go under--at age 135.
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