Bloomberg Anywhere Remote Login Bloomberg Terminal Request a Demo

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Banco Comercial Shareholder Berardo Says He Plans to Keep Stake

Dec. 5 (Bloomberg) -- Banco Comercial Portugues shareholder Jose Berardo said he plans to keep his 6 percent stake in Portugal’s second-largest listed bank.

“I maintain my position,” Berardo said in a telephone interview. “I’m waiting for better days. It’s not reasonable to sell at this point.”

Banco Comercial has dropped 76 percent this year. The bank rose 4 percent to 13 cents a share at 3:44 p.m. in Lisbon trading today.

After losing so much market value, it’s “possible” that Banco Comercial will become a takeover target, Berardo said.

“All it takes is a capital increase for that to happen,” he said. It would help Banco Comercial if the Portuguese government paid back debt it owes to the country’s banks, Berardo said.

Portugal’s government said on Dec. 2 it planned to transfer to the state as much as 6 billion euros ($8.1 billion) from Portuguese banks’ pension funds and use part of that to pay off part of the state’s debts that are held by banks.

To contact the reporter on this story: Henrique Almeida in Lisbon at halmeida5@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.