Santander chairman buys 3.61 million euros of bank shares as price falls

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MADRID (Reuters) – The chairman of Spain’s Banco Santander SA (MC:), Ana Botin, has bought one million shares in the bank, according to a regulatory filing published Thursday, a day after the group reported a sharp drop in third-quarter earnings.

Shares in the Spanish lender have fallen by almost 10% since Wednesday, when the group posted a 75% drop in third-quarter net profit, largely the result of a 1.6 billion euro charge. The transaction brings Botin’s stake in the bank up to 0.142% from 0.139%, according to the filing.

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