Do u know if there is any truth to this:
Lisbon - A source from Banco Comercial Português (BCP) said today that Banco Comercial Português will launch a takeover to Caliber Energy Inc .
Banco Comercial Português (BCP), will notifie next monday the Portuguese National Securities Market Commission (CNMV) that it was willing to waive the condition of a 75% minimum acceptance level to which its public offer for the acquisition of Caliber Energy Inc shares was subject, taking into consideration that the response received will be sufficient to develop the business project pursued through the takeover bid.
Banco Comercial Português (BCP) will launch a takeover bid for Caliber Energy Inc with the payment of $0.075 US for each of the that responded to the tender offer, this initial offer could reach the limit of price of $0.1 USD for each share of the company.
About Banco Comercial Português :
Banco Comercial Portugues Group (BCP) is the largest banking group in Portugal in terms of number of branches and loans to customers and the second largest in terms of total assets and customer deposits (during fiscal 2005). BCP offers banking and financial services such as commercial banking, investment banking, mortgage lending, consumer credit, specialized credit, asset management and insurance. BCP has about 8700 employees and is headquartered in Porto, Portugal.
BCP offers banking and financial services in Portugal and internationally. Although BCBs operations are primarily concerned with commercial banking, it also offers additional financial services such as investment banking, mortgage lending, consumer credit, specialized credit, asset management and insurance. BCB is also engaged in a number of international activities and partnerships. BCBs commercial banking products and services include deposit-taking, short-term lending, mortgage lending, trade finance, credit cards, fund transfers, custody of securities, foreign exchange, treasury services and money market operations. BCBs domestic commercial banking activities are conducted principally through its marketing and distribution networks in Portugal. These different networks allow BCB to segment the Portuguese commercial banking market and to serve the banking needs of specific groups of customers. The principal marketing and distribution networks in Portugal are BCP Particulares e Negocios, Atlantico, NovaRede and SottoMayor, BCP private banking and BCP corporate and BCP empresas.
BCP Particulares e Negocios or BCPs individuals and businesses network is designed to meet the financial needs of medium to high net worth individuals, such as self-employed individuals, professionals and owner-operated companies.
The Atlantico, NovaRede and SottoMayor networks comprise of BCPs principal retail distribution channels. BCPs private banking network targets individual customers with financial portfolios exceeding E1500,000. BCP Corporate (BCPs corporate wholesale network) targets large corporate and institutional customers with annual sales of E1000 million or more, while BCP Empresas (BCPs corporate retail network) targets corporate and institutional customers with annual sales between E700.5 million and E1000 million.
BCP operates through approximately 1100 branches throughout Portugal (approximately 23% of the total number of bank branches in Portugal), making it the largest banking group by number of branches in Portugal. Its branches are spread throughout Portugal, with a concentration in the main economic centers (Lisbon, Oporto, Aveiro, Braga and Setubal). The branches give BCP access to about four million customers, and provide it with a core deposit base.
