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Portuguese Bank Talks Collapse
4 Sep
Summary
- CTT and Cajamar have ended acquisition talks.
- No agreement was reached on the banking unit.
- The deal's failure was confirmed by sources.
Negotiations between Portugal's CTT - Correios de Portugal and Spain's BCC-Grupo Cooperativo Cajamar concerning the acquisition of Banco CTT have officially ended. People familiar with the situation revealed that the discussions did not result in a successful agreement.
The parties involved were unable to find common ground regarding the terms for the banking unit. This outcome signals the termination of the proposed takeover deal between the Portuguese postal service's bank and the Spanish cooperative group.
Further details regarding the specific points of contention or the reasons for the collapse of the talks have not been disclosed. The failure to reach a consensus means the acquisition will not proceed as planned.
