Greece. NBG In Talks To Acquire Eurobank
2012-10-08 17:51:38
National Bank (NBG) and Eurobank, Greece’s first and third largest banks respectively, are close to a buyout deal which may also include two smaller lenders, Millennium and Hellenic Postbank, banking sources said.
The deal is said to enjoy the blessing of the government, while the two banks, which unsuccessfully considered a merger in the past, may issue statements later tonight.
In view of the likely developments, the Athens bourse suspended the two banks’ shares from trading. The news sent the general index surging to a seven-month high. It closed at 829.96 points, with gains of 5.05%. The banking index ourperformed, climbing 9.48% to 247.47 points.