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Paribas in talks to buy BCP's Credibanco - report
02/09/2004 09:56
LISBON, Sept 2 (Reuters) - France's BNP Paribas is in early stages of talks on possibly acquiring Credibanco, the consumer credit unit of Millennium bcp (BCP) , Jornal de Negocios newspaper reported on Thursday.
Spokesmen for BCP, Portugal's biggest listed bank, and BNP declined to comment.
The offer came from Banco Cetelem, BNP's consumer credit arm, the newspaper said. Talks are in an initial stage and a price has not been set.
A sale of Credibanco would be part of BCP's policy of concentrating on its core retail business, the newspaper said. As part of that strategy, BCP sold control of its life and health insurance business to financial group Fortis in July.
BCP shares were unchanged at 1.73 euros at 0830 GMT while the benchmark PSI20 index was off 0.4 percent and the DJ Stoxx bank gauge was flat.
02/09/2004 09:56
LISBON, Sept 2 (Reuters) - France's BNP Paribas is in early stages of talks on possibly acquiring Credibanco, the consumer credit unit of Millennium bcp (BCP) , Jornal de Negocios newspaper reported on Thursday.
Spokesmen for BCP, Portugal's biggest listed bank, and BNP declined to comment.
The offer came from Banco Cetelem, BNP's consumer credit arm, the newspaper said. Talks are in an initial stage and a price has not been set.
A sale of Credibanco would be part of BCP's policy of concentrating on its core retail business, the newspaper said. As part of that strategy, BCP sold control of its life and health insurance business to financial group Fortis in July.
BCP shares were unchanged at 1.73 euros at 0830 GMT while the benchmark PSI20 index was off 0.4 percent and the DJ Stoxx bank gauge was flat.
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