The “quick sale” of Novo Banco – designed to recover the massive €3.9 billion bailout ploughed into the bank that morphed from the ashes of scandal-torn BES – is unlikely to take place before next April, writes Expresso this week, as the “good” bank’s accounts need to be audited. Meantime, the Bank of Portugal is understood to be in negotiation with a new institution keen to plough a “sangria” of deposits into the “good bank”.
Novo Banco sale unlikely to take place before next April
