Spanish builder Sacyr sold a 3.1 percent stake in BBVA for a fat gain on Wednesday, giving up a plan to become a core player at the bank and ending a saga that bemused financial experts. Sacyr stock rose about 5 percent after it made a capital gain of 151 million euros ($196.7 million) from selling its stake in Spain's second-biggest bank. BBVA fell 1.6 percent to the price at which the package of 106 million shares was sold.

Sacyr's ambition to become a board member at BBVA - announced in November and rejected out of hand by the bank - had raised more than a few eyebrows even in Spain's cosy business circles amid cries of government interference.

Copyright Reuters, 2005