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Reuters

Reuters

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World

Portugal says Novo Banco IPO likely to be for stake of up to 30%

Reuters
Summary
Nutrition label

78% Informative

U.S. private equity firm Lone Star is likely to sell 25-30% stake in Novo Banco via an IPO , finance minister says.

Finance Minister Joaquim Miranda Sarmento says the government has never been informed about the sale.

Sources say Lone Star , which owns 75% of the bank, is considering a full sale as well as weighing an IPO .

The Portuguese bank was created in 2014 from a bailout of collapsed private bank Banco Espirito Santo .

VR Score

87

Informative language

93

Neutral language

56

Article tone

formal

Language

English

Language complexity

51

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

External references

no external sources

Source diversity

no sources

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