The decision on the sale of a 34% (plus 10%) stake in Hellenic Postbank (TT) before the end of 2011, is launching developments for consolidation of the domestic banking system, right after the end of stress tests in June.
The Greek government’s intention has leaked at the end of last week, fuelling rumours about mergers and acquisitions among Greek banks and the search for a foreign investor in one of the four major Greek banks.
The main source of the rumours has been the announcement of government’s intention to sell a stake of TT, with both Greek and Cypriot banks also being interested.
The acquisition of TT won’t be particularly easy case for Greek banks, despite the fact that some of them already hold significant stakes in TT.
The Greek government’s intention has leaked at the end of last week, fuelling rumours about mergers and acquisitions among Greek banks and the search for a foreign investor in one of the four major Greek banks.
The main source of the rumours has been the announcement of government’s intention to sell a stake of TT, with both Greek and Cypriot banks also being interested.
The acquisition of TT won’t be particularly easy case for Greek banks, despite the fact that some of them already hold significant stakes in TT.
Market sources told Capital.gr that there are “issues” in the evaluation of the securities that the Greek banks deposited to derive liquidity, which would be clarified during the stress tests and could cause additional problems for their adequacy to proceed with acquisitions or claim TT.
Regardless of this, the launching of Hellenic Postbank sale alerts Greek banks and brings acquisitions back to the negotiating table, possibly before the sale of TT at the end of the year.
CAPITAL
