NEWS

SYRIZA-backed daily reveals offshore link

TAGS: Politics, Media

Under pressure from New Democracy, SYRIZA-backed Avgi newspaper revealed Tuesday that one of its shareholders is a firm based in Cyprus.

The conservatives raised the issue after it came up during the parliamentary inquiry into bank loans granted to media companies and political parties in previous years. They asked the daily to provide details regarding the information that an offshore firm was involved in its ownership structure.

Avgi said that a firm based in Cyprus took part in its share capital increase in 2014, buying 16,500 shares at a price of 3 euros each.

The newspaper added that it took out a loan with National Bank eight years ago and has paid back some 400,000 euros of the 1.3 million total, without missing any payments.

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