Dia faces uncertain future

Source: elconfidencial, Wednesday, May 15, 2019

The fate of Spanish supermarket chain Dia has been reduced to a face to face between the President of Banco Santander Ana Botín and Russian tycoon Mikhail Fridman. Faced with the stampede of most creditors of the unpaid loan of EUR912 million, negotiations to refinance the supermarket group's debt and avoid its immediate bankruptcy have become a duel between LetterOne and Banco Santander, which has rejected the latest proposal of the Russian investor by requiring the bondholders to assume a loss. (Spanish language)