MillenniumBCP's board decided to mandate the executive committee to proceedwith, and to complete with exclusivity, negotiations with regardingthe Chinese group's acquisition of an approximately 16.7% stake in thelender, according to a Sept. 28 announcement.

The Portuguese lender had said Sept. 27 that its board resolved tomake effective Oct. 24 a 1-for-75 reverse stock split following the issue ofgovernment decree allowing it to carry out a reverse split of its shares. Thegrouping of the shares is a condition for a potential deal with Fosun, Macauhubreported Sept. 26.

The consideration that will be paid to shareholders for shares thatdo not allow the attribution of a whole number of shares is 2.57 euro cents pershare in cash.

The FosunInternational Ltd. unit will pay €236 million for the 16.7% stake,according to Macauhub.