Banco BIC Angola withdraws from reprivatisation of Portuguese bank BPN

3 December 2010

Luanda, Angola, 3 Dec – Angolan bank, BIC Angola has withdrawn from putting forward a proposal for the reprivatisation process of Portugal’s Banco Português de Negócios (BPN), said Fernando Teles, the bank’s chairman, speaking to Angolan newspaper O País.

The possibility of Banco BIC Angola and Portuguese bank Montepio Geral splitting the assets of BPN based on the strategic interests of each of the banks, has now been set aside, with Montepio having previously announced its withdrawal.

It is the second time that no institution has put itself forward for the reprivatisation of BPN, which has left the Portuguese government in a difficult situation, as since its privatisation, following frauds, state group Caixa Geral de Depósitos has injected over 3 billion euros into BPN.

Speaking to the paper on a previous occasion, Teles said that BPN’s assets and liabilities did not justify the 180 million-euro price tag placed on the bank by the Portuguese government.

BIC Angola and Portugal’s Montepio Geral were the first two banks to pick up the tender document for the reprivatisation of BPN, paying out the 100,000 euros required to gain access to it. (macauhub)

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