As Banco Espirito Santo SA (ELI:BES) tumbles today, a victim of the larger concerns regarding Portugal’s sovereign debt stability, the bank is announcing that Seth Klarman’s Baupost has recently acquired a 2.27 percent stake in the firm.
Espírito Santo International misses debt payments
On Tuesday Espírito Santo International, parent of BES, said that it had missed some debt payments, and on Thursday trading its stock was suspended as the stock market Lisbon, PSI Index, plummeted almost 4 percent. Banco Espirito Santo is Portugal’s second-largest lender, according to a report in the
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