Cajamar ends talks to acquire Portugal's Banco CTT

Negotiations between the Spanish cooperative group Cajamar and CTT-Correios de Portugal regarding the potential acquisition of Banco CTT have ended without an agreement. The breakdown of talks prevents Cajamar from entering the Portuguese banking market through this strategic move.

CTT had previously engaged financial advisors, including BNP Paribas and Rothschild, to explore strategic options for its banking subsidiary following an unsolicited and non-binding expression of interest. While the Spanish group has withdrawn, CTT continues to evaluate various strategic alternatives for Banco CTT. Previous discussions included the possibility of a spin-off and subsequent public listing, as CTT leadership noted that the postal group is not the ideal long-term shareholder for a banking entity.