Greece’s NBG to sell further 13 pct stake in Finansbank by end-2015, officials say

Greece’s National Bank plans to sell a further 13 percent stake in its Turkish subsidiary Finansbank by the end of 2015, bank officials told Reuters on Wednesday.

“NBG will sell a further 13 percent by the end of the year as agreed with the European Commission Directorate General for Competition,” one of the two NBG officials told Reuters, requesting anonymity.

NBG and Finansbank said earlier on Wednesday that they are planning a combined offer, rights issue and a share sale by April this year, reducing NBG’s stake in Finansbank to 73 percent from 99 percent. [Reuters]

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