Shares in Banco Popular rose more than 4 per cent on Monday after an unidentified group of investors, believed to be from Mexico, said they were looking to buy a 20 per cent stake in Spain’s third-largest listed bank.

Blueprime Ltd, a UK-registered entity acting on behalf of the consortium, said it had already agreed the purchase of a 3.5 per cent holding in the bank from Trinitario Casanova, a Spanish property developer.