Spanish banks Caja de Ahorros y Pensiones de Barcelona (La Caixa) and Banco Popolar said on Tuesday in a statement to the Spanish securities watchdog CNMV that they are still in talks with Inmobiliaria Colonial's core shareholders, Luis Portillo and Luis Nozaleda, to acquire a stake in the debt-laden company after Colonial shareholders borrowed money from the banks using stocks as guarantee. The Spanish bank added it could join forces with other creditor banks if Colonial shareholders decide to swap their debt into equity in the Spanish group.
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