Espirito Santo Will Be Recapitalized With State Aid, SIC Says
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Portuguese lender Banco Espirito Santo SA will be recapitalized with state aid, television station SIC reported on its website, without saying how it obtained the information.
The decision will be announced in the evening of Aug. 3, SIC said. The solution is being negotiated by the management team at the bank and by the Bank of Portugal, in connection with the Finance Ministry, according to SIC.