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

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

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

by Wochit 1:10 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. RadioShack Corp. said it is in talks with investment banks on ways to bolster its finances, as the money-losing electronics chain works to remake its image and reverse sliding sales. The 94-year-old company lost $139 million last year and has struggled to keep up as electronics retailing shifted to the Web and consumer tastes changed.

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