Caixa Geral CEO Says It’s Not Possible to Buy All of Novo Banco

Caixa Geral de Depositos SA Chief Executive Officer Paulo Macedo said it wouldn’t be possible for the Portuguese state-owned lender to buy all of Novo Banco SA if it decided to carry out that acquisition.

“You know the rules of the Competition Authority and this wouldn’t be possible,” Macedo said in response to a question on the possible sale of Novo Banco by majority owner Lone Star. “If there are other alternatives, we will look at them.”

Caixa Geral is interested in increasing its market share with companies, namely small and medium-sized enterprises, a segment in which its market share ...