Exclusive: Fosun open to sale of Portuguese bank stake, sources say [Reuters]
CAIXABANK SA UNSP/ADR (CAIXY)
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Source: Reuters
bcp (BCP.LS) , opens new tab after disposing of some shares earlier this year, two sources familiar with the matter told Reuters. The Chinese conglomerate, which aims to boost its working capital amid what analysts see as debt pressure, has been evaluating options, such as finding a strategic buyer for the 20% holding, one of the sources said, speaking on condition of anonymity. The stake was worth around 836 million euros ($910 million) on Monday, according to LSEG data. European lenders including Spain's BBVA (BBVA.MC) , opens new tab and CaixaBank (CABK.MC) , opens new tab have been sounded out as potential buyers, the second source said. However, CaixaBank has indicated it has little interest in acquiring the stake, that source and a third one familiar with the lender's thinking said. Fosun did not respond to a request for comment. Millennium bcp, BBVA, and Caixabank declined to comment. In January, Fosun sold 5.6% of Portugal's largest listed bank for 235 million euro
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