October 14, 2016 / 10:21 AM / 10 months ago

BRIEF-Board of BPI welcomes Caixabank's bid, but says bank's value is higher

Oct 14 (Reuters) - Banco BPI SA :

* Said on Thursday that its board of directors considers Caixabank's takeover bid timely and friendly as it enhances BPI's capacity to face challenges and opportunities of the banking sector

* Caixabank has offered 1.134 euro per BPI's share , the board of BPI estimates bank's valuation at 1.38 euro ($1.55) per share

* BPI's board considers it difficult to determine the price due to certain factors, including uncertainty on time frame and terms in which the value of bank's stake in BFA can be monetized, increasing capital requirements, uncertainty on the impact from new minimum requirements for own funds and eligible liabilities (MREL)

Source text: bit.ly/2dRZ166

Further company coverage:

$1 = 0.8928 euros Gdynia Newsroom

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below