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Athens News Agency: News in English, 01-03-20

Athens News Agency: News in English Directory - Previous Article - Next Article

From: The Athens News Agency at <http://www.ana.gr/>

CONTENTS

  • [01] EFG Eurobank Ergasias-Telesis Bank-Acquisition
  • [02] Allatini-FYROM-Acquisition
  • [03] Greece - Iran - Defence ministers
  • [04] ASE-close

  • [01] EFG Eurobank Ergasias-Telesis Bank-Acquisition

    20/03/2001 20:14:06

    EFG Eurobank Ergasias, which belongs to the Latsis shipping, oil and banking group, is to acquire Telesis Investment Bank, officials of the two companies told a news conference on Tuesday.

    The acquisition of Telesis Investment Bank through a merger will be completed in about six months, the officials said.

    Management at the two banks are to propose to shareholders a swap ratio of 2.2 shares in Telesis for one stock in EFG Eurobank Ergasias, they added.

    The acquisition of Telesis comes in the wake of EFG's buyouts of Interbank, the Credit Lyonnais branch network in Greece, Bank of Athens, Cretabank and Ergobank, which was renamed Ergasias after the merger and incorporated into EFG's name.

    [02] Allatini-FYROM-Acquisition

    20/03/2001 19:07:37

    Allatini, a biscuit and flour maker, told the Athens Stock Exchange on Tuesday that it had withdrawn interest it had expressed in buying a company in the Former Yugoslav Republic of Macedonia (FYROM).

    The Greek firm had informed the bourse in February that it was eyeing a majority stake in the FYROM enterprise, which was in the same line of business, after submitting a formal proposal containing conditions for the continuation of acquisition talks.

    Allatini did not give a reason for its withdrawal of interest.

    [03] Greece - Iran - Defence ministers

    20/03/2001 19:06:42

    The ominous situation in neighbouring FYROM was discussed by the Greek and Iranian defence ministers in Athens on Tuesday, along with the latest developments in the Middle East, SE Europe and Central Asia.

    Greek minister Akis Tsohatzopoulos reiterated Athens position on the violence in the Former Yugoslav Republic of Macedonia (FYROM), referring to a small ?group of (Albanian) terrorists ... who wish to repeat the Kosovo and south Serbia experiment.?

    He also noted that Greece isnt planning to reinforce its military force now serving in the NATO contingent controlling Kosovo (KFOR), while adding that Athens has dismissed the possibility that the conflict now mostly centred around the northwestern FYROM city of Tetovo will spread further south.

    According to the visiting Iranian minister, Vice-Adm. Ali Shamkhani, both delegations reiterated their countries devotion to the implementation of UN Security Council resolutions as the only way to solve security problems in several sensitive regions.

    [04] ASE-close

    20/03/2001 16:13:17

    The Athens Stock Exchange followed its European counterparts lead to close higher on Tuesday on hopes that the US Federal Reserve would reduce interest rates by at least 50 basis points.

    Traders said buying activity resumed in the last half-hour of the session with demand for blue chip stocks in the banks and telecommunication sectors, such as Alpha Bank, National Bank and Hellenic Telecoms, pushing the general index above the 3,100 level again.

    The index ended 1.16 percent higher at 3,108.39 points, with turnover 165.61 million euros, or 56.43 billion drachmas, of which 2.04 million euros were pre-agreed block trades.

    The FTSE/ASE 20 index for blue chip and heavy traded stocks ended 1.34 percent up at 1,782.35 points, and the FTSE/ASE 40 index jumped 1.52 percent to 376.82 points.

    The parallel market index for smaller capitalisation stocks ended at 330.56 points, up 1.63 percent.


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