Extension is likely for Hellenic Postbank sale

It appears that the government will secure an extension of a few days from its international creditors for the sale of Hellenic Postbank.

The completion of the transaction for the state-controlled lender has been upgraded to a prior action required for the disbursement of the next installment of the country’s bailout program. According to that, the bank should be sold by July 15.

Investors who are interested can now collect Hellenic Postbank’s financial figures, while Goldman Sachs has been commission as a consultant to the Hellenic Financial Stability Fund (HFSF).

The market is taking it for granted that Eurobank (which is also state-controlled for now), National Bank and Alpha Bank are interested in Hellenic Postbank, while interest has also been expressed informally by foreign investors. Banking sources say that Eurobank has the edge so far in that race.