Portugal Discusses Chinese Capital Injection In BCP - Report
December 23 2011 - 8:19AM
Dow Jones News
Portuguese and Chinese authorities have discussed informally the
possibility that a Chinese bank invests in Banco Comercial
Portugues SA (BCP.LB), daily Publico reports Friday, without citing
sources.
According to the newspaper, Industrial & Commercial Bank of
China Ltd.(1398.HK) and China Development Bank are among the banks
involved in the discussions, which were reportedly held at a time
when the Portuguese government was handling the sale of a 21% stake
in utility EDP-Energias de Portugal SA (EDP.LB).
Government-controlled China Three Gorges Thursday won the
bidding.
Such an investment would help BCP strengthen its capital
position at a time when Portuguese banks are being asked to
increase their capital to comply with the requirements imposed by
the European Union authorities and the terms of Portugal's EUR78
billion international bailout.
BCP declined to comment on the report.
Full story: http://publico.pt/
-Contributed by Carla Canivete of Webtexto to Dow Jones
Newswires; +34-91-395 8120; djmadrid@dowjones.com