Fernando Teles speaks out against the complete alienation of Portuguese banking to the Spanish.

Banker says he was forced to sell his 57% position in Eurobic because of the partnership with businesswoman Isabel dos Santos.

Former Eurobic shareholder, Fernando Teles, who leads the group of investors who sold the largest share of 57.5% of the Portuguese bank for 175 million euros, the equivalent of 166.5 billion kwanzas, declares that he sold his forced position, which is why it warns against the “total” handover of the entire national bank to the Spanish, reported Jornal Económico.

“The deal is done. I'm not very happy, as I was forced, forced, to sell my position because of the partnership with Isabel dos Santos, which caused me embarrassment at an international level, namely with the ECB, which forced the sale of 100% of the bank”, he highlighted. .

The businessman raised 114 million euros (108,493,800,000 KZ) with the sale of his 37.5% stake in the block of shares in the group of other Angolan shareholders, such as Luís Cortez dos Santos, Manuel Pinheiro Fernandes and Sebastião Lavrador (each with 5% of the capital) and an additional 5%, held by five Eurobic management staff.

Fernando Teles reinforces that “in view of the acquisitions of Portuguese banks by Spaniards, when there is competition between companies in projects that need to be financed, it is natural that the Spanish companies have more facilities than the Portuguese”, highlighted the businessman.

Therefore, the completion of the sale of Eurobic to Abanca, in a deal valued at more than 300 million euros (285,510,000,000 KZ) makes Abanca the seventh largest bank in Portugal with a portfolio of more than 300 thousand customers .

Fernando Teles speaks out against the complete alienation of Portuguese banking to the Spanish

Banker says he was forced to sell his 57% position in Eurobic because of the partnership with businesswoman Isabel dos Santos.

Jul 15, 2024 - 12:53
Fernando Teles speaks out against the complete alienation of Portuguese banking to the Spanish
© Photography by: DR
Fernando Teles speaks out against the complete alienation of Portuguese banking to the Spanish

Former Eurobic shareholder, Fernando Teles, who leads the group of investors who sold the largest share of 57.5% of the Portuguese bank for 175 million euros, the equivalent of 166.5 billion kwanzas, declares that he sold his forced position, which is why it warns against the “total” handover of the entire national bank to the Spanish, reported Jornal Económico.

“The deal is done. I'm not very happy, as I was forced, forced, to sell my position because of the partnership with Isabel dos Santos, which caused me embarrassment at an international level, namely with the ECB, which forced the sale of 100% of the bank”, he highlighted. .

The businessman raised 114 million euros (108,493,800,000 KZ) with the sale of his 37.5% stake in the block of shares in the group of other Angolan shareholders, such as Luís Cortez dos Santos, Manuel Pinheiro Fernandes and Sebastião Lavrador (each with 5% of the capital) and an additional 5%, held by five Eurobic management staff.

Fernando Teles reinforces that “in view of the acquisitions of Portuguese banks by Spaniards, when there is competition between companies in projects that need to be financed, it is natural that the Spanish companies have more facilities than the Portuguese”, highlighted the businessman.

Therefore, the completion of the sale of Eurobic to Abanca, in a deal valued at more than 300 million euros (285,510,000,000 KZ) makes Abanca the seventh largest bank in Portugal with a portfolio of more than 300 thousand customers .

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