Shareholders in Spain's Bankia will be essentially wiped out following the lender's...

|By:, SA News Editor

Shareholders in Spain's Bankia will be essentially wiped out following the lender's restructuring. The bank - cobbled together in late 2010 from 7 teetering savings banks - went public in July 2011 with an aggressive campaign targeted to get the country's small savers to invest. The price of the stock is off 80% since.