October 21, 2019 / 11:24 AM / a month ago

BCP says Sonangol reaffirms intent to remain shareholder, shares jump

LISBON, Oct 21 (Reuters) - Angolan state oil company Sonangol reaffirmed its interest in remaining a shareholder of Millennium bcp, lifting shares of the largest Portuguese private bank by 3.9%.

Sonangol is BCP’s second-largest shareholder, with 19.49% after China’s Fosun, which controls 27.25% of the bank’s capital.

The top officials of Sonangol and BCP met in Luanda on Oct. 16, as part of regular meetings between the two institutions.

“At the meeting, we analyzed the results and activity of the first half of 2019, as well as the goals set out in the Millennium bcp Strategic Plan for the period 2018-2021, focused on sustained growth and profitability,” BCP said in a statement.

“The management of Sonangol reaffirmed the interest of the shareholder in the investment and in remaining as a reference shareholder of Millennium bcp,” he said. (Reporting by Patrícia Vicente Rua, Translated to English by João Manuel Maurício, Gdansk Newsroom)

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