Banco BPI SA may have to drop out of the race toacquire Novo Banco SAbecause of opposition from leading shareholder , Bloomberg News reportedSept. 29.
"Four people familiar with thematter" said CaixaBank officials told investors that once the Spanishlender takesover Banco BPI, it willmove to oppose an acquisition of Novo Banco. The Portuguesegovernment restarted the sale of Novo Banco — the goodbank carved out of Banco EspíritoSanto SA — after offers from all bidders in the first sale processin 2015 were deemed toolow.
Banco BPI Chairman Artur Santos Silvasaid Sept. 21 that the bank is "seriously studying" the Novo Bancosale, comments that came the day its shareholders approved the removal ofa 20% cap on the bank's voting rights, clearing the way for CaixaBank's bid,the news source added.