Fosun, led by the tycoon known as “China’s Warren Buffett”, has acquired almost 17 per cent of
Millennium BCP, making the conglomerate the biggest shareholder in the largest listed bank in Portugal, where it already owns the largest insurer.
The deal is the latest in a series of significant Portuguese acquisitions by Chinese groups who have pumped billions into the country since the financial crisis, buying stakes in electricity generation, the national grid, insurance, hospitals, water and other sectors.
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