Greece to Consider Hellenic Post, Attica Stakes Sales
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Greece’s government will consider selling its stakes in two state-controlled banks and will cut wages and curb costs at a third lender as the country bolsters the stability of its financial system.
The government will consider the disposal of holdings in Hellenic Postbank SA and Attica Bank SA when it sees the conditions as appropriate, according to a report to the European Union, released yesterday by e-mail from the Athens-based Finance Ministry. Agricultural Bank of Greece SA, the only Greek bank to fail regional stress tests earlier this year, will be “thoroughly” restructured as a stand-alone institution, according to the report.