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National Bank of Greece SA Spon Message Board

  • markmarydomdom markmarydomdom May 8, 2013 7:40 AM Flag

    nbg +14%


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    • The one think that bankingnews sometimes covers is foreign buys/sells, and they report significant buying of NBG by foreign banks today. Deutschse, Citi, Bank of America, JP Morgan, Societe Generale. Euroday reporting Alpha bank will go from 10% to 12%. Looks like the end game is going to show institutional involvement in these banks to insure they stay private, and perhaps to meet 12% (and thereby not take cocos).

      NBG in the US not up so much, but that is because in the US the stock rose significantly last Friday -- Athens market was closed Friday, Monday, and Tuesday -- so something may have happened end of last week that caused the rise in the US.

      I hope they don't get so giddy they see all roses for the NBG future and do a tender that strives to do nothing except show that a tender was done. Still, I am convinced that NBG will need some additional capital and, more importantly, that NBG believes they will need more -- the cheapest core tier 1 buffer around is a swap of my shares for cheap common shares.