According to the head of the Merger Control department, Inocêncio Muanchingue, the process initiated in May is still under assessment, but “practically in its conclusive phase”.
“It is already in its final phase, and we may have the decision made by the Authority’s board of directors this month”, he said.
After acquiring all the shares of Banco de Comércio e Indústria (BCI) in 2021, Carrinho Empreendimentos, part of the Carrinho group, now wants to acquire around 70 percent of the shares in Banco Keve, a financial institution that has been on the list of the country’s systemically important commercial banks since 2023.
Inocêncio Muachingue said that the assessment of the transaction is within the average timeframe, stressing that the observations on the operation will be included in the deliberation of the authority’s board of directors.
“As soon as a decision is made, the market will know whether any objections were submitted, which we call observations, and whether the market reacted and what the market’s reactions were,” he stressed.
The official stressed that the interested parties are the first to be notified of the decision, and the decision will subsequently be made public, taking into account confidentiality issues, “as there are many elements that, in a certain way, are business secrets of the parties.”
The ARC had given a deadline of ten working days, starting from 29 May, to contest this operation.
