Pharol bonds are down 13.1% on the Portuguese stock market after it was reported that Banco Comercial Português (BCP) wants High Bridge's shares in the holding company to be sold.
The shares of the company led by Luís Palha da Silva are sinking 13.14% to 0.1216 euros, which is the lowest since July 2016.
High Bridge holds a stake in Pharol, which is almost 10% of its capital, but after BCP acquired ownership rights on Monday, August 12, Pharol shares, which were given as collateral, are expected to be sold. The scenario comes as a result of High Bridge Unipessoal defaulting on a loan from the bank led by Miguel Maya.
[Dados das cotações, 09h22]
BCP wants to sell Pharol shares