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No Lisbon agreement

6 March 2015 By Fiona Maharg-Bravo, Dominic Elliott

The Portuguese bank says it’s worth 2.26 euros a share to Caixa, way above its suitor’s pitch. That’s a punchy 40 pct premium to forward book value. BPI was recently trading at a 50 pct discount. The bluster makes a deal for the group harder, but not a sale of its Angola assets.

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