ECONOMY

Eurobank to bid for Emporiki, says deputy CEO

Eurobank EFG Deputy CEO Michalis Colakides said the Greek lender plans to bid for Credit Agricole SA?s Emporiki Bank.

Offers are likely to be invited over coming days, Colakides said in an interview on Monday.

Eurobank and other potential bidders have completed ?some due diligence? of Emporiki, whose valuation will be determined by the amount of capital the lender will need, Colakides said.

[Bloomberg]