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Economy

Massano: “We are very happy” with stakes in BCP and Galp, and it continues to “make sense” to maintain them

The Minister of State for Economic Coordination, José de Lima Massano, said that they are "very happy" with the stakes in Banco Comercial Português (BCP) and Galp, saying that “it continues to make sense for Sonangol to maintain the stakes” in these two assets.

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In an interview with Bloomberg, Massano said that, although the State has sold 108 companies out of the nearly 200 stakes held in assets to be privatized, "it continues to make sense for Sonangol to maintain its stakes in BCP and Galp".

According to the official, "these are investments that aim to maintain a balanced portfolio".

"We see no need or urgency to follow a different path," he added, speaking to Bloomberg.

Thus, the minister, who expressed satisfaction with the stakes in the Portuguese bank and oil company, assured that the Executive intends to remain an investor in these two assets, while simultaneously selling other assets with a view to improving public accounts.

Lima Massano reiterated that they are "very happy" with what they currently have: "We are very happy with what we have at the moment".

Furthermore, in the interview with Bloomberg, the minister described the relationship with these two Portuguese companies as "very positive".

It is recalled that Sonangol holds 19.5 percent of BCP's shares, occupying the position of the Portuguese bank's second largest shareholder, behind Fosun. In Galp, the flag oil company has an indirect stake, through the Amorim Energia holding (36 percent of Galp shares).

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