ECONOMY

In Brief

Greek shareholder sheds 1.20 percent of CosmOTE LONDON – Investment bank Lehman Brothers is selling 4 million shares in Greek mobile telecoms company CosmOTE, in a deal worth up to 59.6 million euros ($78.86 million), representing a 1.20 percent interest in the company, market sources said on Wednesday. Lehman was selling the shares in a range of 14.75 to 14.95 euros each, they added. Some traders said Lehman was acting on behalf of Greek-owned WR Com Enterprises, a founder of CosmOTE, which is the country’s largest mobile carrier by number of users. WR Com Enterprises cut its stake in CosmOTE to 4.962 percent from 5.004 percent in October. Dominant Greek telecoms operator OTE owns around 59 percent of CosmOTE. (Reuters) Kathimerini sells two tankers for more than $90 million Kathimerini group announced on Wednesday it is in the process of selling two fully owned tankers. It said Zenith Maritime Corp, a subsidiary of the group’s Argonaftis oceangoing shipping company, has sold the Greek-flagged Nissos Christiana for $41.5 million, minus 2 percent commission. Also, Bigal Shipping Corp, also an Argonaftis subsidiary, has signed the sale of Niriis for $52.28 million, minus 2 percent commission, by the end of the month. On news of the deals, Kathimerini shares closed 3.17 percent up at 5.82 euros on Wednesday. Attica group enters HFD The Panagopoulos Group of companies, through its listed Attica Group firm, has purchased an 11.6 percent stake in Hellas Flying Dolphins (HFD), the Minoan Lines’ affiliate. Attica bought the stake owned by Philippos Vryonis, 8,974,625 shares, paying 13,461,937,50 euros in cash. This surprising move came just a month after Gerasimos Strintzis moved from the head of Blue Star Ferries to managing director at HFD. The Panagopoulos Group is also reported to be negotiating the purchase of the Agapitos group’s stake (7 percent) at HFD. Industrialists to task The Federation of Greek Industries (SEV) has urged members and all enterprises to participate in the humanitarian operation in favor of the tsunami-struck countries in Asia. SEV calls on industrialists to support the money-raising efforts of the Greek representation at the United Nations High Commission for Refugees (UNHCR) and the Greek branch of UNICEF, as well as that by the Workers’ Social Benefits Organization which cooperates with the «Allilegii» (Solidarity) organization of the Church of Greece, collecting food and other goods. DIAS takes Sunday off Interbank ATM network DIAS will not operate for 24 hours this Sunday, January 9, due to work in its electromechanical infrastructure. Bank card-holders will only be able to use the cash machines of their own bank but not others for the day.