Spain's Criteria says to reduce stake in Caixabank to 40pc by end 2017

MADRID: Spain's Criteria, the parent company of Caixabank, said on Thursday it would reduce its stake in the lender to 40 percent from 56.8 percent by the end of 2017.

"The reduction will facilitate the entry of new investors and new funds into the shareholder structure of Caixabank," a filing with the Spanish stock market regulator from Criteria said.