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Portugal: Africa’s richest female billionaire seeks to derail CaixaBank bid

By  |  March 3, 2015

Angolan investor Isabel dos Santos believes Millennium and Banco BPI will consider her plan for them to merge as an alternative to a takeover bid from Spain’s Caixabank for, BPI that does not offer value.

Dos Santos, Africa’s richest woman and the daughter of Angola’s president, has already held talks with Millennium shareholders about her proposal to merge Portugal’s two leading listed banks.

She has written about the plan in a letter to the chief executives of Millennium, BPI and Caixabank. The letter said it is “our conviction that there is openness to start a deep dialogue by the management teams aimed at consolidating the two banks.”

The proposal marks the second time in just a few months that dos Santos, already a big investor in Portugal, has made inroads into the country’s corporate arena.

 

Full Content: The Wall Street Journal

 

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