LISBON Feb 7 China's largest private
conglomerate Fosun raised its stake in Portugal's
largest listed bank Millennium bcp to 23.92 percent as
a result of the lender's 1.33 billion euro ($1.42 billion)
rights issue, the bank said on Tuesday.
Fosun bought an initial 16.7 percent stake in BCP in
November for 175 million euros.
It subscribed to last month's capital increase to raise its
stake to up to 30 percent, but fell short of that mark after
demand exceeded shares on offer by 23 percent.
BCP's second-largest shareholder, Angola's state-owned oil
company Sonangol, raised its stake slightly to 15.24 percent
from 14.87 percent in the rights issue even though it had
received authorisation from the European Central Bank to raise
its stake to 30 percent.
After soaring to one-month highs on Monday, BCP shares
plunged nearly 10 percent on Tuesday on profit-taking and as new
new shares were due to start trading later this week.
Chinese companies have been actively buying assets, from
infrastructure to insurance and banking, in Portugal since its
2010-13 debt crisis.
Fosun already owns the country's leading insurer Fidelidade
and the largest private healthcare provider Luz Saude.
($1 = 0.9355 euros)
(Reporting by Andrei Khalip; Editing by Adrian Croft)