Fosun not available to raise price in talks to buy Novo Banco

September 11, 2015 12:48 PM

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LISBON, Sept 11 China's Fosun International is not available to negotiate the purchase of Novo Banco on the basis of an increase in the initial bid price as the Bank of Portugal bank has requested, a source close to the process said on Friday.

"Fosun already communicated to the Bank of Portugal that it is out of the question to raise the price and that it is not ready to negotiate on that basis," the source said.

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