ECONOMY

In Brief

Piraeus says no change in MPB bid, no cash offer Piraeus Bank, Greece’s fourth-largest lender, will not change its bid for Marfin Popular Bank and will not offer any cash, its vice chairman told analysts in a conference call yesterday. «There will be no change in our offer price, we don’t plan to offer any cash,» said Piraeus Vice Chairman Michalis Colakides. «Our offer reflects how much we think we are worth and how much we think they are worth.» Piraeus launched a tender to buy at least 40 percent of Marfin Popular Bank, valuing MPB at about half its market capitalization. MPB’s rival bid for Piraeus and Bank of Cyprus were ruled invalid by the Cypriot securities regulator. (Reuters) Bill aspires to bring order to Greece’s coasts Encroachers and illegal coastal developers could face prison terms of at least two years and fines of up to -800,000, according to a bill published by the Finance Ministry yesterday. With the use of satellite technology, the bill aims to compile a complete register of Greece’s coastline, only 16 percent of which has been mapped in detail. It also sets the terms for the use of islets and reefs for farming, fishing or tourist purposes, and provides for permits for the use of the coastline by hotels. Holiday homes Media group Real Travel said yesterday it will launch a series of exhibitions promoting Greek holiday homes to local and foreign buyers in a move that will help increase the property market’s exposure. «The aim is to internationally promote Greek holiday homes as a means of lengthening the tourist season and attracting a better clientele to the country,» the company said. The first exhibition will be held on Athens in May with the fair then expected to head to London, Stockholm and Monaco. According to Bank of Greece data, foreign investors poured -160 million into home purchases in Greece between January to September 2006, up 60 percent from the same period a year earlier. Enel eyes Bulgarian plant Italian energy giant Enel is interested in buying up to 49 percent of Bulgaria’s Belene nuclear plant, the company’s Chairman Piero Gnudi said yesterday. Enel is also close to finalizing a deal to double the capacity of Bulgarian thermal power plant (TPP) Maritsa East 3, Gnudi said in Sofia where he was accompanying Prime Minister Romano Prodi on an official visit. (Reuters) Catering for BA Listed firm Olympic Catering already supplies its onboard catering services to British Airways and will sign a contract for it. This will not exceed 6 percent of the Greek company’s total turnover from onboard catering services and products, or 3 percent of its overall turnover, as it informed in a stock filing.