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Home > Banco Espirito Santo Plunges 20% As Goldman Cuts Stake

Banco Espirito Santo Plunges 20% As Goldman Cuts Stake

By Tyler Durden
Created 08/01/2014 - 08:08
Tyler Durden's picture [1]
Submitted by Tyler Durden [1] on 08/01/2014 08:08 -0500



 

As we noted yesterday [4], Goldman Sachs (and its muppeted clients) bought Banco Espirito Santo bonds and stocks at around 50c. Having lost more than two-thirds of their money on that trade, this happened...

  • *BANCO ESPIRITO SANTO SAYS GOLDMAN SACHS CUTS STAKE TO BELOW 2%

BES stocks is down over 20% this morning to fresh record lows. So much for the short-selling ban - maybe time for a 'selling' ban.

 

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Source URL: http://www.zerohedge.com/news/2014-08-01/banco-espirito-santo-plunges-20-goldman-cuts-stake

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[1] http://www.zerohedge.com/users/tyler-durden
[2] http://www.zerohedge.com/taxonomy_vtn/term/126
[3] http://www.zerohedge.com/taxonomy_vtn/term/197
[4] http://www.zerohedge.com/news/2014-07-31/goldman-does-it-again-banco-espirito-santo-bonds-stock-are-crashing
[5] http://www.zerohedge.com/sites/default/files/images/user3303/imageroot/2014/07/20140801_BES.jpg