Acquisition Latest News: Greek Bank Rescue Fund Picks Eurobank to Buy Postbank: Source

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Acquisition Latest News: Greek Bank Rescue Fund Picks Eurobank to Buy Postbank: Source

Acquisition Latest News: Greek Bank Rescue Fund Picks Eurobank to Buy Postbank: Source
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Acquisition Latest News: Greek Bank Rescue Fund Picks Eurobank to Buy Postbank: Source

by Wochit 1:13 mins

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. Isabella de Krassny, a leading shareholder of insolvent German home improvement retailer Praktiker is considering buying out banks in a move to save the company. de Krassny said, "An insolvency is not the end. Together with other investors we are considering buying the loans held by banks." She and her husband Alain de Krassny together own about 15 percent of Germany's No. 3 DIY chain, according to Thomson Reuters data. The on-again, off-again sale of Hulu is off again. The parent companies of ABC, NBC and Fox said Friday that they would stay owners of Hulu, while providing a cash infusion of about $750 million to ensure future growth. The owners had accepted formal bids for the online video service last week. The announcement Friday suggests the bids were too low.

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