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Spain cancels state lottery IPO

29th September 2011 8:06 am GMT

Faced with a looming general election and increasing political opposition to the sale, together with the continuing deterioration of financial markets, the Spanish government said Wednesday that it is cancelling the planned public offering of a 30 per cent stake in national lottery operator Loterías y Apuestas del Estado (LAE). 

The sale of the 30 per cent stake in LAE was scheduled to begin Friday and was expected to generate as much as €9bn for the [...]

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