LISBON, Sept 21 Spain's Caixabank has
to make a new mandatory takeover bid for Portugal's Banco BPI,
Portugal's stock market regulator CMVM said on Wednesday, which
could force an increase in the bid price of 1.113 euros a share
offered in April.
The decision by CMVM came hours after shareholders in BPI
lifted a 20 percent voting right limit, clearing the way for the
takeover by the Catalonia-based giant, which already owns 45
percent of the bank, and ending months of wrangling between
The CMVM only said in a statement that a mandatory offer for
all of BPI has to be launched, but did not specify if the price
has to go up. Caixabank CEO said last week he had no plans to
raise the "adequate" offer price.
(Reporting By Andrei Khalip, editing by Axel Bugge)