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Trading suspended on BPI as Isabel dos Santos prepares to sell stake to Caixabank

Market regulator CMVM suspended trading on BPI stock on Wednesday morning as news that Africa’s richest woman, Isabel dos Santos, is now locked in talks with Spain’s third largest bank CaixaBank in a bid to sell her share of BPI.

An agreement over the approximately 21% stake is likely to come “in the coming days” people with “knowledge of the matter” have told Bloomberg, which claims the current market value of dos Santos’ holding is “about €966 million”.

BPI shares had increased as much as 12% – “the highest since June” – before they were suspended from trading, adds the financial website.

Isabel dos Santos has been in the news recently over suggestions that she uses Angolan State funds for her business ventures – something she hotly refutes.

Last month, she was voted number six on Transparency International’s Unmask the Corrupt online campaign.

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