Banco BIC SA, Angola’s biggest private bank by number of branches, could make a bid for an insurer in Portugal after buying a local lender in the southern European country last year.
Galp Energia SGPS SA rose to its highest intraday price in seven months after Eni SpA of Italy sold a 6.7 percent stake in Portugal’s biggest oil company.
Eni SpA, Italy’s largest oil company, raised 678 million euros ($880 million) selling a 6.7 percent stake in Portuguese explorer Galp Energia SGPS.
Galp Energia SGPS SA, Portugal’s biggest oil company, said third-quarter profit rose 58 percent as output from its Brazilian projects increased.
Banco Popular Espanol SA plans to sell as much as 2.5 billion euros ($3.2 billion) of discounted shares as the Spanish lender bids to close a capital shortfall.
Banco BIC SA, Angola’s biggest private bank in terms of branches, has $760 million to expand its network and carry out an acquisition in Brazil, Chief Executive Officer Fernando Teles said.