Abstract

The process of sale of Banco de Valencia managed by the FROB lasted 10 days. The sale was awarded to CaixaBank for one euro after receiving 5, 500 million euros of public funds. The Oliver Wyman report, published days before, drove this resumption. The needs that were estimated at Oliver Wyman report were 1, 846 million euros in the baseline scenario, a scenario that has been worse than real. This paper analyzes the value of BdV. The results indicate that the minimum value of BdV for CaixaBank is over 4, 000 million. However, this study could not determine why this difference. Difference recognized in the accounts of CaixaBank. However, the price paid, one euro, after a major sacrifice of public funds at a time of declining expenditures and social benefits is an issue that should be investigated.