Brazil's Itau boosts stake in Banco BPI to 18.3 pct - report

LISBON (Thomson Financial) - Brazil's Itau boosted its stake in Banco BPI's share capital to 18.3 pct in the months preceding BPI's merger proposal with larger domestic rival Banco Comercial Portugues, Jornal de Negocios reported.

Itau now owns 0.8 pct more of BPI's share capital than at the end of last year.

BPI and BCP started talks yesterday with the aim of reaching a possible merger agreement between the two banks, after BPI made a merger proposal last month. lm/tc COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved.

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