Portugal regulator wants clarification on Angola before lifting suspension

April 19, 2016 11:02 AM

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LISBON, April 19 Portugal's CMVM market regulator won't lift its suspension on trad in Banco BPI shares until the country's second largest listed bank has clarified the European Central Bank's position on its exposure to Angola, a source with knowledge of the situation said.

Spain's Caixabank, BPI's largest shareholder with a 44 percent stake, launched a takeover offer for BPI on Monday but BPI's holding of 50.1 percent of Angolan bank BFA remains unresolved. New European banking rules took effect this month, requiring BPI to fully provision for Angolan assets or face l...

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