MIG, Wind team up in telecoms

Buyout firm Marfin Investment Group (MIG) will team up with subsidiary Marfin Popular Bank and Greek wireless company Wind Hellas to introduce mobile phone banking services to the Greek market. «The strategic alliance is based on a shared vision for unified communications, emerging information and communication technologies offerings and the development of sophisticated banking services using mobile technology,» the companies said in a joint statement. No details were given concerning when mobile phone banking services may be launched. The companies will also pursue joint initiatives in retail by utilizing each other’s distribution networks and proceeding with commercial branding agreements. MIG, whose major shareholder is the Dubai Financial Group, said recently it was seeking 5 billion euros via a rights issue to fund banking sector investments in Greece and fast-growing Southeast Europe.