"Euronext informs that, following the result of the Takeover Bid by CaixaBank for BPI, and given the information available so far, it has been decided to exclude the shares of Banco BPI from the PSI20 index," the Portuguese bourse manager said.

Thus the main Portuguese index will have just 17 listed companies: Altri, BCP, Corticeira Amorim, CTT, EDP, EDP Renováveis, Galp, Jerónimo Martins, Montepio, Mota-Engil, Nos, Pharol, REN, Semapa, Sonae, Sonae Capital and The Navigator Company.

After a public offer for the shares of BPI that it did not already own, which was concluded this week, CaixaBank has ended up with 84.5% of the voting rights in the bank.

The two next largest shareholders - Santoro and Banco BIC, both controlled by Isabel dos Santos of Angola, and Portugal's Violas Ferreira and Banco BIC - are all believed to have sold up. The only leading shareholder to stay put is the insurer Allianz, with 8%, which has deals in place with BPI to sell its insurance products in its branches.

On Thursday BPI’s shares ended the day down by 12.38% tto €0.92, lower than the price offered in the takeover.