ECONOMY

Ellaktor nips rumors over slump

ellaktor-nips-rumors-over-slump

Following Thursday’s sudden and seemingly unjustified decline in the stock of listed construction firm Ellaktor on the Greek bourse, the Athens-based group issued a statement refuting market rumors that it is in financial trouble.

According to the company’s statement, there have been no developments that Ellaktor is aware of to justify the extreme decline of its stock by 29.97 percent in Thursday’s bourse session.

It added that following contacts between the company’s management and its main stakeholder, the latter categorically reiterated his support for the group’s administration and its main subsidiaries, while also strongly denying any rumors suggesting a funding lapse.

The owner of Ellaktor, according to the statement, believes that the dissemination of those unfounded rumors was a deliberate attempt to undermine the stock’s price. The owner further promised to take any necessary action in order to defend the interests of the company and its shareholders.