With all other operating holdcos having already declared bankruptcy, [6] the anxiety over Banco Espirito Santo is growing (despite DE Shaw and Goldman Sachs recommending investors buy the shares [7]). Despite Bank of Portugal reassurance last night that "BES is able to raise capital), the stock is plunging on news of "unexpected facts" this morning...
- *BANCO ESPIRITO SANTO SAYS SHAREHOLDER MEETING WAS CANCELLED DUE TO "UNEXPECTED FACTS''
- *BANCO ESPIRITO SANTO FALLS MORE THAN 13% IN LISBON TRADING
Remember, this is systemic (as the Portugues President has warned) [8], and the contagion is potentially global... [9] not "contained."
3 down, 1 to go?
But The Bank of Portugal reassured everyone last night...
- *BANCO ESPIRITO SANTO IS ABLE TO RAISE CAPITAL: BANK OF PORTUGAL
- *BANK OF PORTUGAL SAYS BES SOLVENCY IS ASSURED
But now this...
- *BANCO ESPIRITO SANTO SAYS SHAREHOLDER MEETING WAS CANCELLED
- *BES SAYS MEETING CANCELLED DUE TO ``UNEXPECTED FACTS''
- *BES SAYS `UNEXPECTED FACTS' INCLUDE ESFG FILING FOR PROTECTION
- *BES SAYS ESFG AND CREDIT AGRICOLE WITHDRAW PROPOSALS
And the result...
- *BANCO ESPIRITO SANTO FALLS MORE THAN 13% IN LISBON TRADING
and this could go global...



