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4 Banks Bidding says it all.
maybe you should read this then http://www.bes.pt/01.2_MensagemPresidente_uk.html
Fully Up to Date Website Banco Espirto Santo >> http://www.bes.pt/01.1_home_uk.html
correct...to buy it from the sole shareholder, the Resolution Fund...lol
Until Sold, NOW 4 BANKS BIDDING.
Novo Banco is a successor of Banco Espírito Santo (BES) establised in August 2014 by the Bank of Portugal as a bridge bank (or a "good bank") to rescue assets and liabilities of BES. The only owner of Novo Banco is a special bank Resolution Fund, the fund will continue to own the bank until the bank is sold to new owners
https://thebanks.eu/banks/17345
And now 4 Banks are Bidding!!!
Novo Banco is a Portuguese bank introduced on 4 August 2014 by the Bank of Portugal to rescue assets and liabilities of Banco Espírito Santo (BES).
The rescue of Banco Espirito Santo came after weeks of increasingly bad news about the financial state of the lender, particularly its exposure to a cascade of companies headed by its founding Espirito Santo family headed by Ricardo Salgado. BES was to be split into a "good bank", renamed Novo Banco, and a "bad bank", which will house BES's exposures to the troubled Espirito Santo business empire as well as its Angolan subsidiary BESA. Novo Banco was recapitalised to the tune of 4.9 billion euros by a special bank Resolution Fund. The Portuguese state lends the fund 4.4 billion euros.The bank has a board for the 2014-2017 mandate and is presided by Vítor Bento.[1]
A month and a half after he started up his duties, Vítor Bento abandoned the leadership of Novo Banco and was replaced in September 2014 by Eduardo Stock da Cunha.[2]
The Resolution Fund is the bank’s only shareholder until a sale transaction takes place
https://en.wikipedia.org/wiki/Novo_Banco
The End of BES being private!!!!
watching pullback
On 3 August 2014, Banco de Portugal, Portugal's central bank, announced a €4.4 billion bailout of BES that heralded the end of BES as a private bank. The bailout was funded by the Portuguese Resolution Fund (Portuguese: Fundo de Resolução). The bank was split into a healthy bank, Novo Banco, while the toxic assets remain in the existing bank.[3]
https://en.wikipedia.org/wiki/Banco_Esp%C3%ADrito_Santo
And that existing bank is Banco Espirito Santo trading @ .0002 before today's action.
Which trades as BKES end of story. Bank of Portugal Receives Four Bids for Novo Banco
Source: Dow Jones News
LISBON—Portugal's central bank said Thursday that it received four bids for Novo Banco SA, the good bank created out of the collapse of Banco Espí rito Santo SA.
Novo Banco was put on the block last year, but its sale was shelved in September over price disagreements.
Bank of Portugal said in a statement that it now will decide whether to sell the bank to a bidder or through the market, a task that could prove difficult given investor uncertainty following U.K.'s vote to leave the European Union last week.
The central bank didn't name the bidders.
Write to Patricia Kowsmann at patricia.kowsmann@wsj.com
(END) Dow Jones Newswires
June 30, 2016 15:35 ET (19:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
It is the good bank being sold but it's not part of the BKESF ticker. Novo is a private bank.
Other way around - and the Good Bank is called Novo Banco ie New Bank
Exactly...and the name of the "Good Bank" is Novo Banco which is being sold, and not Banco Espirito Santo E which is this ticker BKESF
Yep. One would have had to be pretty dense to think this ticker was the Novo Bank (aka Good bank) which was being bid on, and not the Bad Bank with all the rotten scraps. pretty clearly laid out in the WSJ article.
exactly. lol not sure why people think that kind of news would be legit for a pink sheet stock. that news was released last thursday with no reaction, because it was not regarding the ticker bkesf. there isn't even any mention of the ticker in the pr. somehow, this morning, it got interpreted as a legit bid for THIS ticker. sorry for the folks that bought in and won't be able to sell as people realize that news has nothing to do with this bkesf.
Happens all the time...just don't be the one looking for a chair when the music stops
bingo churak. this ticker is not the ticker that is being sold. bkesf has been a dead ticker since that split. a lot of buyers got suckered into this one without knowing which entity the bids are for.
Are you certain that is what is being sold? The bank was split a couple of years ago into two banks
https://en.wikipedia.org/wiki/Banco_Esp%C3%ADrito_Santo
IMHO, it is the "Good Bank" that is being sold and not the old remnant holding the crap assets...which is why what is on the pinks is under the old name and was trading @ .0002 before the clstrfk in names...lol
BKESF Receives Four Bids for Novo Banco
Banco Espirto Santo E (USOTC:BKESF)
LISBON—Portugal's central bank said Thursday that it received four bids for Novo Banco SA, the good bank created out of the collapse of Banco Espí rito Santo SA.
Novo Banco was put on the block last year, but its sale was shelved in September over price disagreements.
Bank of Portugal said in a statement that it now will decide whether to sell the bank to a bidder or through the market, a task that could prove difficult given investor uncertainty following U.K.'s vote to leave the European Union last week.
The central bank didn't name the bidders.
Write to Patricia Kowsmann at patricia.kowsmann@wsj.com
Yep, .0044 is the beast mod price!!!! Break that and pennies are easy today!!! Volume radars are pinging now!!!!!
New highs!!! This baby is very strong
BKSEF, 0.0035, BOOM...been holding and adding at these low levels.....BOOOOYA Patience.
What's he meaning by selling through the market?
Bank of Portugal Receives Four Bids for Novo Banco
Source: Dow Jones News
LISBON—Portugal's central bank said Thursday that it received four bids for Novo Banco SA, the good bank created out of the collapse of Banco Espí rito Santo SA.
Novo Banco was put on the block last year, but its sale was shelved in September over price disagreements.
Bank of Portugal said in a statement that it now will decide whether to sell the bank to a bidder or through the market, a task that could prove difficult given investor uncertainty following U.K.'s vote to leave the European Union last week.
The central bank didn't name the bidders.
Write to Patricia Kowsmann at patricia.kowsmann@wsj.com
(END) Dow Jones Newswires
June 30, 2016 15:35 ET (19:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
Where do you find the information on the bidding?
Where's the link for the news?
Filings and Website Wow, Up to date.
4 Banks Currently Bidding!!! Amazing
Bank news hits and this is a monster.
This is going to pennies I am a buyer here!!!!!
BKESF taking a small risk. Let's go
BKESF 0.0035 +1650%
Book Value was placed @ $1.09 end of 2014
Loading dips!
Looks like Float is Locked!!
Website Fully Up To Date >> http://www.bes.pt
Bank of Portugal Receives Four Bids for Novo Banco
Source: Dow Jones News
LISBON—Portugal's central bank said Thursday that it received four bids for Novo Banco SA, the good bank created out of the collapse of Banco Espí rito Santo SA.
Novo Banco was put on the block last year, but its sale was shelved in September over price disagreements.
Bank of Portugal said in a statement that it now will decide whether to sell the bank to a bidder or through the market, a task that could prove difficult given investor uncertainty following U.K.'s vote to leave the European Union last week.
The central bank didn't name the bidders.
Write to Patricia Kowsmann at patricia.kowsmann@wsj.com
(END) Dow Jones Newswires
June 30, 2016 15:35 ET (19:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
10,000%+ Coming 4 Banks bidding!!
Citigroup gets 2% of the ‘bad bank’ – TVI24 Citigroup acquired 3,753,415 securities of Banco Espírito Santo (BES), the so-called ‘bad bank’ following the intervention of the Bank of Portugal in the former BES, a business conducted outside the regulated market. The announcement was made on Friday by the Portuguese entity. “The acquisition resulted from a transaction that occurred on May 21, 2015,” reads the statement which is available on the Securities Market Commission (CMVM), which specifies that the business was conducted by a Citigroup subsidiary the Citigroup Global Markets Limited. After this operation, whose identity of the seller is unknown, the US entity now holds an overall position of 113,262,901 shares of BES, to which is added ‘swap’ contracts, corresponding to a share qualified joint of 2.0137%.
http://bestportugueseeconomy.blogspot.de/2015/05/bes-citigroup-gets-2-of-bad-bank-tvi24.html
http://economico.sapo.pt/noticias/citicorp-compra-3700-milhoes-de-accoes-do-bes-mau_219749.html
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