Chinese Fosun offers to buy 16.7% stake in Bank Millennium

Fosun Group, China's biggest private conglomerate, is interested in the purchase of stake in Bank Millennium, a unit of Portuguese Millennium BCP, Reuters informed. According to news agency, Fosun International made a firm offer to buy a 16.7 percent stake in Bank Millennium, with a possible further increase of a stake up to 30 percent. "We see Fosun's proposal as an interesting offer by a very credible investor, but we do not consider this as a hostile approach," Millennium BCP spokesman told Reuters. "Fosun do not seek to gain control of the bank, but want a relevant shareholding position, which shows that there are important international investors out there who are ready to support Millennium bcp in the implementation of its strategic plan," the spokesman concluded.