Amundi becomes a relevant shareholder of Banco Santander with control of 3.007% of its capital stock. The French investment manager reaches this level, valued at around 1,705 million euros at market prices, as a result of the recent integration of Lyxor.
The manager, which is also the largest in the Eurozone in terms of assets under management, has communicated its position in Santander’s shareholding this Monday. However, the notification sent to the National Securities Market Commission (CNMV) specifies that the 3% threshold was exceeded on February 10.
The form also indicates that the position is the result of operations in “a regulated market”. Specifically, it is about the possession of 521.51 million shares of Banco Santander through up to 13 investment vehicles of the French group. Among them, there are some with Amundi’s own mark, others with Lyxor’s, and others with the former manager of Sabadellacquired by the gala at the beginning of 2020.
Some of these vehicles replicate with greater or lesser fidelity the evolution of the Spanish stock market, where Santander is the third most capitalized value. A fact that explains why these funds include relevant positions in the bank chaired by Ana Botín.
In any case, each of these vehicles is independent in deciding what to do with its participation. However, Amundi can define the direction of the vote with a view to a possible shareholders’ meetingdue to the good governance control policies established by its management.
With this irruption, the list of significant shareholders of Santander now has two members. Until now, only the American manager was included in this list black rockwith a weight of 5.426% in its capital.