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Portugal's Biggest Bank May Acquire 25% Stake in Moza Banco of Mozambique

Banco Espirito Santo SA, Portugal’s biggest publicly traded bank by market value, signed a memorandum of understanding to buy a 25 percent stake in Moza Banco SA of Mozambique.

Moza Banco currently has about $54 million in assets, two branches in Maputo and 53 employees, Lisbon-based Espirito Santo said today in a regulatory filing. Its main business is corporate banking, according to Espirito Santo.

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