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Spanish Bank Eyes Portuguese Postal Unit
21 Jul
Summary
- BCC-Grupo Cooperativo Cajamar shows interest in CTT's banking unit.
- CTT-Correios de Portugal SA is considering the acquisition.
- BNP Paribas is assisting CTT with the potential sale process.
Spanish financial institution BCC-Grupo Cooperativo Cajamar is reportedly exploring a potential acquisition of Banco CTT SA, the banking arm of Portuguese postal service provider CTT-Correios de Portugal SA. Sources close to the matter indicate Cajamar's recent engagement with CTT concerning its banking unit.
In response to Cajamar's expressed interest, CTT has reportedly enlisted the assistance of BNP Paribas. The Portuguese company is working with the investment bank to evaluate options and manage the potential sale process for Banco CTT SA, signaling a significant development in the Portuguese banking sector.
Disclaimer: This story has been auto-aggregated and auto-summarised by a computer program. This story has not been edited or created by the Feedzop team.
