Business & Finance
Greece's Eurobank, Alpha Bank in merger: sources
ATHENS : Greece 's Eurobank and Alpha Bank are expected to announce a merger deal on Monday, Greek banking sources told
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ATHENS: Greece's Eurobank and Alpha Bank are expected to announce a merger deal on Monday, Greek banking sources told Reuters on Saturday.
"The deal is about a friendly merger between Alpha Bank and Eurobank, with the participation to a significant extent of the Qatar Investement Authority," a senior banker at Alpha Bank told Reuters.
"The deal will form an entity that will be among the 25 biggest in Europe," said the banker, who declined to be named.
The banker, and another banking source involved the deal, said that the two banks will have board meetings on Monday, which will be followed by announcements and a press conference.
"EFG Eurobank and Alpha Bank are close to a merger deal," the second banking source said.
Copyright Reuters, 2011
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