Tuesday, July 12, 2016 4:49:37 PM
Institutions did purchase this after the resolution; Morgan Stanley and Citigroup have accumulated a large number of shares but a lot has changed since they purchased the shares.
Like I said in my previous post, a lot has changed on the BES balance sheet in the last two years. The Bank of Portugal has pushed more liabilities into BES to make Novo Banco more attractive for a sale. Hopefully, some of those transfers will be overturned in court but it's a long shot at best.
Apologies for the bad examples as the tickers I cited did have the "Q" assigned. This has already traded almost two years after the Bank of Portugal resolution measures so it remains to be seen what will be done after the license is revoked.
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