Bank of Cyprus, Popular Bank shares suspended until Apr 15
NICOSIA, April 2
NICOSIA, April 2 (Reuters) - Cyprus's stock exchange said on Tuesday trading in shares of Bank of Cyprus and Cyprus Popular Bank would be suspended until April 15 inclusive to protect shareholders.
Administrators have been appointed for Popular, which will be split into a "good" and a "bad" bank, with its good assets taken by Bank of Cyprus under terms of a bailout deal with international lenders.
In addition, Bank of Cyprus' major depositors will see 37.5 percent of their uninsured deposits converted to equity.
- Malaysia jet sent 'pings' after going missing, sources say |
- Russia holds war games near Ukraine; Merkel warns of catastrophe |
- New York City gas explosion subject of federal probe |
- White House tried to mediate dispute between Senate, CIA panel: source
- Missing jet may have strayed to west, Malaysia military says |