Portugal PM says hopes BPI can cut exposure to Angola quickly

April 18, 2016 11:35 AM

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PARIS, April 18 Portugal's prime minister said on Monday that he hopes the country's second-largest listed bank, Banco BPI, can quickly reduce its costly exposure to Angola.

Spain's Caixabank, which is BPI's largest shareholder, launched a takeover bid for BPI on Monday after failing to agree with Angolan investor Isabel dos Santos on a complex agreement which would have included her buying part of BPI's stake in Angolan bank BFA.

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