Greece's Piraeus to take over Cypriot banks' Greek units-sources
ATHENS, March 22
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.
- Ukraine says Russian tanks flatten town; EU to threaten more sanctions |
- Seven NATO allies to create new rapid reaction force-report
- U.S. authorities investigate suspected threat against Obama: reports
- Putin says Russia must strengthen its economic, military position in Arctic
- China and Hong Kong poised for showdown over democracy