January 9, 2017 / 5:47 PM / a year ago

Millennium approves capital hike of up to 1.3 bln euros - media

LISBON, Jan 9 (Reuters) - Millennium bcp, Portugal’s largest listed bank, has approved a capital increase of up to 1.3 billion euros, local media reported on Monday.

Online site Economia Online and the site of business daily Jornal de Negocios reported that the bank’s board had approved the measure at a meeting on Monday.

A spokesman at the bank said Millennium would not comment.

In December, shareholder in Millennium approved an increase of the bank’s voting rights cap to 30 percent, as demanded by China’s Fosun. Fosun bought a 16.7 percent stake in Millennium last year, with a possible further increase of up to 30 percent.

Reporting By Axel Bugge and Sergio Goncalves

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