Caja de Ahorros del Mediterráneo (CAM) is in talks with the Spanish central bank over a possible nationalization after its merger with three peers ended, The Wall Street Journal reports. The Spanish savings bank is providing a new business plan and an application for money from state-financed Fund for Orderly Bank Restructuring to the Bank of Spain. CAM was set to merge with Cajastur, Caja Cantabria and Caja Extremadura and form Banco Base. The three smaller lenders have started new merger talks amongst themselves.
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