Finance Minister says Novo Banco sale ‘will go ahead,’ despite legal actions
Published on 25/05/2017
Portugal’s finance minister is confident that the planned sale of Novo Banco to the US vulture fund, Lone Star, is on track and will go ahead as planned.
The sale of Novo Banco remains under threat from bond holders, nursing losses of around €1.5 billion, who have gone to court for compensation. This has raised concerns among analysts that these legal disputes still might upset the planned sale.
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