BES mess gets worse amid capital scramble
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EquityFollow-ons and Rights issues

BES mess gets worse amid capital scramble

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The same investors that saw their €1.1bn investment in Banco Espírito Santo plunge over 60% in the weeks following the Portuguese lender’s capital raise could support another deal to plug an up to €4.5bn hole in the bank’s balance sheet that emerged on Wednesday evening — even as commentators asked whether shareholders could pursue legal action.

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