Banco Santander to compensate small victims of Madoff

Banco Santander has announced that it is to compensate all individual investors who lost money in the Madoff scam via its investment arm. Going to cost them around €1,380,000,000, it seems, and will be repaid in preferential participations and cash. Institutions can go whistle. Nice of them, but I can’t help wondering what ZP will give in exchange?