Banco Espirito Santo (BES) is seeking to sell its stake in Brazilian bank, Bradesco, Reuters reports, citing Valor Economico. The Portuguese lender could fetch around $2.46 billion from the sale of its 3.55% stake. BES can either sell the shares in the open market or it may sell part or the entire stake to Bradesco. The seller plans to use the proceeds from the sale for reinvestment in Brazil.
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