Banco BPI's Ulrich has no worries about BCP bid or of bank losing independence

LISBON (Thomson Financial) - Banco BPI chairman Fernando Ulrich said he has no worries about the outcome of Banco Comercial Portugues' takeover bid for the bank or that BPI will lose its independent status, Diario Economico reported.

The newspaper cited the chairman as saying that 'I am calm about the outcome of the bid, and that BPI will continue as an independent project.'

Separately, Diario Economico cited Carlos Camera Pestana, representative of BPI core shareholder Banco Itau, as saying that the bank has not had any contact with BCP, adding that Itau's opposition to BCP's bid for BPI is 'not just a question of price.'

BCP has until next Tuesday to improve its offer for BPI, unless BPI calls and AGM to vote on the elimination of voting rights restriction before that date.

Coincidentally, both banks are also due to report first quarter results next Tuesday. [e-mail] jg/an COPYRIGHT Copyright AFX News Limited 2007. All rights reserved. The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.