OTE’s new tranche triggers jealousies
Greek banks have been the star performers on the buoyant Athens stock exchange this year, but the surge in share prices masks a shake-out, as competition intensifies in the run-up to European monetary union (Emu).
Of Greece’s 42 banks, 20 have a market share of just 1% each. Consolidation is inevitable and several banks are raising money at home and abroad to position themselves for acquisitions.
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