Greece's Piraeus to take over Cypriot banks' Greek units-sources

ATHENS, March 22 Fri Mar 22, 2013 11:17am EDT

ATHENS, March 22 (Reuters) - Piraeus Bank has been chosen to take over the Greek branches of Cypriot lenders that are being sold to shield the Greek banking system from the island's crisis, two bankers with direct knowledge of the negotiations said on Friday.

Shares of Piraeus were up 20 percent in afternoon trading on speculation of the takeover.

Alpha Bank had also been in the running to buy the Greek units of Bank of Cyprus and Cyprus Popular , bankers had previously said.

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.