Greek Bank Rescue Fund Picks Eurobank To Buy Postbank: Source

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Greece's bank rescue fund has picked Eurobank to buy New Hellenic Postbank as part of consolidation in the sector and to meet a condition for the country's next tranche of bailout aid, a banker close to the deal told Reuters on Saturday.

Greek Bank Rescue Fund Picks Eurobank To Buy Postbank: Source

Greece's bank rescue fund has picked Eurobank to buy New Hellenic Postbank as part of consolidation in the sector and to meet a condition for the country's next tranche of bailout aid, a banker close to the deal told Reuters on Saturday.

Athens has agreed with its euro zone and International Monetary Fund backers that it will sell New Hellenic Postbank (TT) and Proton Bank by July 15, a condition for the release of more funds from the 240 billion-euro bailout keeping the country afloat.
 

An official announcement is expected later on Saturday.

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