Altri SGPS, a Portuguese industrial holding company, is reported to be in nonexclusive talks to buy Portuguese papermaker Celbi SA from Stora Enso Oyj. Altri is one of three short-listed bidders for Celbi, with Spain’s Grupo Empresarial ENCE SA and Portuguese businessman Manuel Champalimaud. Analysts said the price could be €300-400 million. Stora Enso plans to divest Celbi and five other sites, and close four units. www.storaenso.com

• Also in Portugal, the Portuguese government will let Portucel build a new 550,000-ton-capacity paper mill at Mitrena, south of Lisbon. Portucel will also modernize its pulp mill at Figueira da Foz, north of Lisbon. The government plans to sell its 25.7% stake in Portucel during 2006. www.portucelsoporcel.com. PI