Wilbur Ross – On the Hunt for New Investments in Europe (Spanish Banks)

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Dec 12, 2012
You have to love Wilbur Ross — always looking for value in the smelliest corners of the market. Here are his comments:

- Has been looking at investments in Spain for over a year.

- Plans to take a look at Spanish banks once they roll out a good-bank/bad-bank solution.

- Every week he is speaking with a Spanish bank.

- Expects some time next year he would make some capital infusion-type investments in Spanish banks.

- His roll will not be passive; it will be similar to what he has done in Ireland.

- He thinks Spain and Italy need an entire restructure of their economies; Ireland was simpler.