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Investor dos Santos signals support for BPI’s Angolan deal
5:30 CAT | 22 Sep 2016
Reuters / Isabel dos Santos, the daughter of Angolan President Jose Eduardo dos Santos and head of state energy giant Sonangol, speaks during an interview in Luanda, Angola June 9, 2016.
Angolan investor Isabel dos Santos signalled on Thursday she had agreed for her telecoms firm Unitel to take control of Banco BPI’s Angolan arm, allowing the Portuguese bank to sidestep risk provisions that could have strained its finances.
BPI, which is subject to a takeover bid from Spain’s Caixabank, offered on Tuesday to sell a 2 percent stake in its Angolan bank BFA to Unitel, which is indirectly controlled by dos Santos, the daughter of Angola’s president.
In return, dos Santos, who has an 18.6 percent stake in BPI, dropped her long-standing opposition to the Caixabank deal.
Source: Reuters
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