The Spanish banking group Cajamar failed to reach an agreement with CTT for the purchase of Banco CTT. The parties were in negotiations, but were unable to reach an understanding on the transaction.
Banco CTT, the financial arm of the Portuguese postal service, had attracted interest from the Spanish group. Cajamar had publicly expressed its interest in a potential purchase of the Portuguese banking institution.
The negotiations between the two entities were concluded without success. The sale process of Banco CTT did not proceed with this counterparty, leaving uncertain the future strategy of CTT for its banking business.
