SAN.MC is trading approximately 5.1% down at €11.85, driven by significant corporate restructuring in its Asia-Pacific operations and ongoing discussions for voluntary retirement offers for up to 3,000 employees in Spain.
The sharp pullback also reflects investor profit-taking following a strong multi-month rally, coupled with reassessments of valuation multiples and broader discussions of stretched European bank valuations.
Additionally, increased scrutiny on Banco Santander's acquisition of Webster Financial, amid widening deal spreads and recent political comments, contributed to market caution.