LISBON: A year after buying the largest Portuguese insurance company (Fidelidade), Chinese consortium Fosun is still “alert to any business opportunities” in Portugal, a country it considers to be the “best in Europe” for investment.
“I am not saying that other countries are no good, but Portugal is the best. I say this to any Chinese person who wants to invest in Europe”, said Liang Xinjun Fosun’s vice-president and CEO in English, at a meeting with Portuguese reporters at the group’s headquarters in Shanghai.
He highlighted the fact that “it is easier to build friendships” in Lisbon and “the costs are lower” than in other European capitals. Fidelidade, which it bought from the only state-owned Portuguese bank (Caixa Geral de Depósitos), has about a 30% share of the domestic market. It was one of the biggest investments in Fosun’s history, costing €1.1 billion.
