Greece to privatize country’s Postal Savings Bank
Greece’s privatization committee has approved a listing of the Greek Postal Savings Bank on the Athens Stock Exchange, the Finance Ministry said late Monday.
The committee didn’t specify the timing of the listing nor the size of the stake to be offered.
Greece’s center-right New Democracy government, which won elections in March last year, is looking to raise EUR1.5 billion in 2005 from privatizations.
The previous socialist government had already slated the Post Savings bank for privatization and had indicated it would sell up to 40% of shares in an initial offering.
The committee also decided to boost cooperation between the Post Savings Bank and the Greek Post Office with an exchange of up to 10% of shares.
-By Paul Tugwell, Dow Jones Newswires; 30 210 3312 881; paul.tugwell@ dowjones.com
Dow Jones Newswires
01-11-050439ET
