BANKING

HFSF considers holding on to a 33.3% stake in Piraeus

hfsf-considers-holding-on-to-a-33-3-stake-in-piraeus

The Hellenic Financial Stability Fund (HFSF) wants to keep its holding in Piraeus Bank near the 33.3% that would allow it to be a controlling-minority shareholder after the lender’s upcoming share capital increase, according to the statement of the fund’s general board chairman, Andreas Verykios, in Parliament on Thursday.

He cited the benefit to the state from the expected recovery of the bank’s shares.

That target is quite different to the recent comment by a competent government official to Kathimerini, according to which the HFSF stake could drop as low as 20% if an anchor investor comes forward during the book-building process.