Madrid expects damage from snowstorm to reach 1.398 bln euros

MADRID, Jan 14 (Reuters) - Damage to the city of Madrid from the historic snowstorm that hit last weekend reached at least 1.398 billion euros ($1.70 billion), local authorities said at a news conference on Thursday.

"It's a very preliminary figure," Deputy Mayor Begona Villacis told reporters in a news conference with Mayor Jose Luis Martinez-Almeida, adding that the figure was expected to rise.

($1 = 0.8227 euros) (Reporting by Inti Landauro; Editing by Nathan Allen)