Sonangol refutes reported plan to sell Galp Energia indirect stake - report (translated)
24 AUG 2018
Sonangol, the Angolan state oil group, has no plans to sell its indirect stake in Galp Energia [ELI:GALP], the energy group, reported Expresso. Portuguese media had reported earlier this month that Sonangol was preparing to divest its 15% stake in Galp worth around EUR 2.2bn. A source on the Angolan state firm’s board, however, told the paper that the reports were mistaken.
Sonangol will keep its indirect Galp holding and also maintain its one-fifth stake in BCP [ELI:BCP], Portugal’s largest commercial bank with a EUR 3.7bn market capitalisation, the same source sa