LISBON, Sept 11 (Reuters) - China's Fosun International is not available to negotiate the purchase of Novo Banco on the basis of an increase in the initial bid price as the Bank of Portugal bank has requested, a source close to the process said on Friday.
"Fosun already communicated to the Bank of Portugal that it is out of the question to raise the price and that it is not ready to negotiate on that basis," the source said.
The central bank has requested an increase in the offer price, the source said.
The central bank started exclusive talks with Fosun on the sale of Novo Banco last week after negotiations with the top bidder - China's Anbang Insurance Group Co - ended without agreement early this month.
Novo Banco was carved out as the 'good bank' from the collapse of Banco Espirito Santo, which had to be bailed out with 4.9 billion euros in August 2014.
(Reporting By Sergio Goncalves, writing by Axel Bugge)