March 22, 2013 / 11:22 AM / 4 years ago

Greece starts process to acquire local units of Cyprus banks

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ATHENS, March 22 (Reuters) - Greece has begun the transfer of Greek units of Cypriot banks to a Greek banking group in coordination with the Cypriot central bank, the country's finance ministry said on Friday.

That came after Cyprus said it had agreed with Greece on a takeover of the units, ending uncertainty over their fate. The branches in Greece been shut this week in line with an extended bank holiday in Cyprus.

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