“This decision is a defeat for the BPI itself, unfortunately,” said the chairman of the board of directors Santoro Finance, Mario Silva, speaking to reporters at the end of the general meeting of the Portuguese bank, which now held in Porto.
At the meeting, the BPI shareholders decided to suspend for June 17 to vote on amendments to the statutes of the bank, to discuss the end of the vote threshold, so that this happens when you’re already registered the tender offer (OPA) launched by CaixaBank.
In general meeting today, with 80.52% of the capital of this bank, it was approved by 54.7% of the vote suspend until 17 June to vote on item seven on the agenda, which provided the vote of the end shield of the voting rights to 20%.
At issue is a decisive statutory amendment to the success of the takeover bid – launched in February by CaixaBank on all of BPI’s capital, to 1,329 euros per share – this change that Santoro, Isabel dos Santos, intended to vote and derail already in assembly -General today.
This is because the Angolan businesswoman has made clear its opposition to the offer of the Catalans, having advanced as alternative proposed merger between BPI and BCP to create the largest Portuguese financial institution.
According to today claimed Mário Silva, “keep the offer in the terms in which it is announced is to maintain limited BPI’s management in its management powers” and, “with the challenges the sector is facing, it is not the institution’s interest delay in this very situation. ”
Ensuring that Santoro wait “patiently” for the vote of 17 June, the representative of Isabel dos Santos reiterated the Angolan opposition to deshielded statutes “in current terms,” the OPA.
. “The OPA has several constraints Price is one of them, but there are others, such as deshielded the statutes,” he said, adding:. “Two months ago said that in today’s terms, Caixabank would not succeed Or retired [supply] or was reviewing the conditions. We maintain this position fully, not changed at all. ”
For the entrepreneur, the fact that the vote on the postponement of the proposed deshielded having party’s own chairman of BPI, Artur Santos Silva, is “symptomatic”.
“[Silva Santos] defend a certain vision of stability for the institution and we also advocate a situation of stability, [but] we believe it is not in the best interest of BPI that the OPA extends artificially in the market,” he said.
Convinced that maintaining the current conditions, the operation will sinker by the shareholders, Mário Silva said that “the OPA is something of the past.”
“We continue to believe that the future of the institution is to participate in consolidation movements in the Portuguese financial sector. We prefer to consolidation in the Portuguese market to a BIS integration in an Iberian structure”, he said.
Questioned by Lusa agency about whether, as today was assumed by BPI administration, sees the offer of Catalan bank as “peaceful”, the president of Santoro said he believes everyone wants “the best for the institution,” but acknowledged that they have ” different visions for the future of the same “.
The Caixa Bank launched February 17 a takeover bid on all of BPI’s capital to 1.329 euros per share, a price considered low for managing the Portuguese bank.
Two weeks later, the Angolan Isabel dos Santos has advanced an alternative proposed merger between BPI and BCP, which would create the largest Portuguese financial institution.
According to recently she stressed the president of Santoro, Mario Silva, the merger with BCP “aims to create a viable alternative” to the Tender Offer, in the case of a generating value solution for the shareholders of both banks to allow you to create “the largest Portuguese bank, with reference positions in three extreme potential markets – Angola, Mozambique and Poland. ”
tags: BPI, convinced, OPA, Santoro,
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