Novo Banco: EU authorises aid granted by Portugal.
(CercleFinance.com) - The European Commission has authorised the aid package granted by Portugal for the sale of Novo Banco.
These measures will enable the new private owner to launch its ambitious restructuring plan to ensure the bank's long-term viability while limiting distortions in competition.
Ms. Margrethe Vestager, commissioner for competition policy, said that Portugal has decided to sell Novo Banco to a new private owner, who will restructure the bank to promote its return to viability.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
These measures will enable the new private owner to launch its ambitious restructuring plan to ensure the bank's long-term viability while limiting distortions in competition.
Ms. Margrethe Vestager, commissioner for competition policy, said that Portugal has decided to sell Novo Banco to a new private owner, who will restructure the bank to promote its return to viability.
Copyright (c) 2017 CercleFinance.com. All rights reserved.