Dawn News

Greek postal bank

ATHENS, Jan 11: An attempt to privatise the Hellenic Postbank flopped on Friday without any interest in bidding, a banking source said, adding that the bank would probably have to be broken up.

“Barring a last-minute development, (Hellenic Postbank) will have to be broken up” to attract interest, the source told AFP. The Bank of Greece is expected to make an official announcement later in the day.

The top three Greek banks — National Bank, Alpha Bank and Eurobank — and smaller Attica Bank had expressed varying degrees of interest in the sale last week.—AFP


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