BPI Shareholder Meeting to End Voting Limits Suspended Again
- Scrapping the limit on voting rights key to CaixaBank takeover
- Vote on limit delayed due to pending decision about injunction
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Banco BPI SA shareholders approved suspending for a second time a meeting to decide on whether to scrap the Portuguese lender’s voting rights limit, a condition of a takeover bid from CaixaBank SA.
CaixaBank proposed resuming the meeting at 10 a.m. on Sept. 21 and the proposal was approved by 91 percent of the votes at the gathering on Tuesday, BPI Chairman Artur Santos Silva told reporters in Oporto, northern Portugal. The meeting had already been suspended on July 22 after shareholder Holding Violas Ferreira requested an injunction.