MIG plans to take full control of Vivartia

Greek stocks, particularly blue chips, remained under selling pressure, in line with markets elsewhere in Europe, for a second straight day yesterday. Mid-caps bucked the trend, with Vivartia, the target of a 30 percent acquisition by Marfin Investment Group (MIG) on Friday, accounting for 40 percent of turnover. After trading, MIG announced it now holds 50.86 percent of Vivartia and plans a public offering for full control. The Athens Exchange (ATHEX) general index was 0.47 percent down, closing at 5,069.87 points, the FTSE/ATHEX 20 blue chip index fell 0.48 percent, the FTSE/ATHEX Mid-40 advanced 0.25 percent and the FTSE/ATHEX 80 small-cap index declined 0.26 percent. Bank of Cyprus outperformed among blue chips, climbing 1.52 percent, Intralot continued its ascent, 0.94 percent up, Alpha Bank added 0.40 percent and Coca-Cola HBC nudged 0.12 percent higher. By contrast, Viohalco tumbled 2.92 percent, Titan slumped 2.02 percent, Postal Savings Bank was 2.00 percent lower, Eurobank lost 1.70 percent, Hellenic Petroleum dropped 1.51 percent and OPAP shed 1.49 percent. Bellwether National Bank receded 0.57 percent from historic highs. Turnover came to -847.25 million, of which -319.47 million was accounted for by Vivartia. Block trades totaled 248.32 million.

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