ECONOMY

Dubai Financial Group reduces stake in Cyprus Popular’s share capital

Cyprus Popular Bank Pcl, the island?s second-largest lender, said Dubai Financial Group LLC reduced its stake in the bank?s listed share capital to 8.8 percent from 18.7 percent.

Dubai Financial?s holding in Cyprus Popular?s issued share capital and voting rights fell to 1.4 percent, according to a filing on Tuesday to the Athens bourse from the Nicosia-based bank.

Marfin Investment Group SA cut its stake of the listed share capital to 4.5 percent from 9.5 percent, while its holding of issued share capital and voting rights now stands at 0.7 percent, the lender said in the filing. [Bloomberg]