Piraeus Bank Deputy CE) stated the bank withdrew its offer for the State’s stakes in ATE and Hellenic Postbank.
“Piraeus Bank withdrew its interest as it notes that the relevant decisions are not to be made imminently,” Stavros Lekkakos said.
In July the Greek lender offered 701 million euros for the state’s stakes in the two banks.
Following the bid, Greece shired Deutsche Bank , HSBC and Lazard as advisors on privatisations and mergers of state run banks.
“For Piraeus it would always have been a difficult acquisition as it would have needed to raise capital to do it, which in the current climate would not have been ideal,” analyst Tania Gold at Unicredit told Reuters.
“I would not rule out NBG or Eurobank bidding for Hellenic Postbank as they both already have stakes,” she said.
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