Banco Santander Central Hispano may bid for Banco Pinto & Sotto Mayor. Portuguese director for BSCH Antonio Horta Osorio is reported in the Spanish press as having said BSCH 'may be interested' at a visit to the Portuguese stock exchange.
It may be remembered that BSCH had originally agreed to purchase BP&SM along with the rest of the Munidal Confianca group from Portuguese entrepreneur Antonio Champalimaud. The state blocked the acquisitions for several months despite threats of being taken to the European Court of justice from the EU Competition Commissioner. Eventually a deal was done whereby BSCH was to be allowed the insurer Munidal Confianca and stakes in three smaller banks within the group but not BP&SM the largest of the banks. Under the agreement state owned Caixa Geral was to control the bank until its sale scheduled for this year. Text of the final agreement last year was never made public. Whether the story could have been a joke, taken seriously by the press is not entirely clear.
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