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...But the immediate focus was on Banco Popular and La Caixa, who lent some €526m to Colonial’s former chairman Luis Portillo and who were reported by El Economista to have now seized stock pledged as collateral...
...Colonial aims to lower this ratio to 55 per cent by 2009, Mr Miguel said. “This will not be a fire sale,” Mr Miguel said....
...Mariano Miguel, Colonial’s chief executive, was appointed interim chairman....
...Alfonso Portillo, president of Guatemala until the end of last year, is in hiding in Mexico and wanted on corruption charges in his home country, where his finance minister is in prison....
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