Sun, Mar 1, 2015, 3:40 AM EST - U.S. Markets closed


% | $
Quotes you view appear here for quick access.

National Bank of Greece S.A. Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • wazoo_wazoo_wazoo wazoo_wazoo_wazoo Feb 20, 2011 3:36 PM Flag

    Greece has fallen and how far it has left to recover.

    The New York Times
    Business Day
    2 Banks in Greece End Planned Merger
    Published: January 21, 2002
    Archive Article

    ATHENS, Jan. 20 — A planned merger of Greece's two largest banks, the biggest deal in Greek history, fell apart on Saturday when the banks called off their talks, citing ''radical differences'' in management styles that had blocked progress.

    The proposed all-stock deal would have combined the National Bank of Greece and Alpha Bank into a single institution with a market value of about $9 billion. The government had enthusiastically favored the deal, hoping it would create a Greek bank big enough to hold its own in competition with banks across Western Europe that now share a single currency, the euro, and that it would encourage other Greek industries to consolidate.

    Analysts had been skeptical of the prospects, in part because Greek labor laws make shedding redundant workers to cut costs after a merger extremely difficult. The final sticking point in the talks was the number of senior and middle-management posts in the new institution to be assigned to Alpha executives.

1.57-0.16(-9.25%)Feb 27 4:04 PMEST

Trending Tickers

Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.
PulteGroup, Inc.
NYSEFri, Feb 27, 2015 4:02 PM EST
Clean Energy Fuels Corp.
NASDAQFri, Feb 27, 2015 4:00 PM EST