June 16, 2020 / 4:55 PM / a month ago

Spain's Abanca gives up on buying Portuguese lender Eurobic

LISBON, June 16 (Reuters) - Spanish lender Abanca will no longer buy a 95% stake in Portugal’s EuroBic, in which Angolan billionaire Isabel dos Santos has been trying to sell her 42.5% stake, a Portugal-based source familiar with the matter told Reuters.

The source said Abanca and Eurobic’s shareholders had failed to reach an agreement on the proposed transaction. Abanca had no immediate comment.

Reporting by Sergio Goncalves and Catarina Demony, Editing by Andrei Khalip

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