NEWS

Cash collected for abductee

The kidnappers of shipping magnate Pericles Pana-gopoulos, who was abducted on Monday, were expected to get in touch with his family yesterday to arrange the details of how the ransom is to be dropped off so that the 74-year-old could be released. Sources said that Panagopoulos’s wife, who is handling the negotiations, was due to hear from the abductors after the tycoon’s family spent the day collecting the cash that the gang has demanded. The kidnappers are said to have asked that the money be handed over in used banknotes and in denominations no bigger than 100 euros. The size of the ransom has not been revealed but sources said that the two sides had been close agreement on an amount on Wednesday before the deal fell through. Panagopoulos is the founder of Greece’s largest ferry company, Attica Holdings, which owns Superfast Ferries. He suffers from a serious health problem that has heightened anxiety about his present condition.