Chinese conglomerate Fosun International Ltd has announced an increase in its stake in Portuguese bank Millennium BCP to over 27 percent from about 25 percent.
Portuguese news agency Lusa reports Fosun as telling the Portuguese stock exchange that the stake increase happened in the second half of last year.
Even before the increase, Fosun held the largest single stake in the bank, Lusa says.
Separately, Fosun announced to the Hong Kong Stock Exchange that its net profit grew to 13.16 billion yuan (US$2.13 billion) last year, 28 percent more than the year before.
The company issued a written statement quoting Fosun Chairman Guo Guangchang as emphasising the performance of its core operations, including Millennium BCP, which made a net profit of €186 million (US$230.9 million) last year, having made a loss the year before.
