The largest private bank in Portugal, Portugese commercial bank – Banco Comercial Português, S.A. released an official statement to clarify the news about the shareholding of Sociedade Nacional de Combustíveis de Angola, EP (Sonangol).

The one-paragraph straight to the point release read:

“Following news published today regarding the participation of Sonangol – Sociedade Nacional de Combustíveis de Angola, EP (“Sonangol”) in the share capital of Banco Comercial Português, S.A. (“BCP” or “Bank”), mentioning a possible divestment in the Bank, we clarify that BCP confirmed today with the management of Sonangol that although the latter maintains its strategy in relation to the Bank it is monitoring possible bank consolidation movements in the euro area and in Portugal, and that, as an investor, it will always analyse, in close co-operation with the Bank and its other strategic shareholders, any opportunities for value creation that may make sense to Sonangol, the Bank and its shareholders.”

End of announcement

Banco Comercial Português, S.A.”