Santander Venezuela shares up 25 pct on sale talk

Shares in Banco de Venezuela, a Venezuelan subsidiary of Spanish financial group Santander climbed 25 percent on Wednesday on market speculation of a takeover bid, traders in Caracas said. The Caracas exchange halted trading of the stock after it rose 20 percent, but allowed trading to resume after the bank said it had no news to report. The stock closed at 0.45 bolivares per share. Venezuelan President Hugo Chavez last year threatened to nationalize banks held by Spanish conglomerates, including Santander, after a diplomatic spat with Spain. Rumors have swirled for years that Banco Venezuela, the OPEC nation's third largest bank, would face a takeover. Banco de Venezuela last week denied it was a takeover target after media reports of interest from an unidentified buyer."