Greece will appoint three foreign international banks as advisors on privatizations and mergers of state-controlled banks, a person with direct knowledge of the matter told Dow Jones Newswires late last week.
“The Greek state will appoint Deutsche Bank, Credit Suisse and Morgan Stanley as advisors to do due diligence on state controlled banks and also advise on the outstanding offer to purchase state controlled banks,” the source told the news agency.
“The legal paperwork is being drafted as we speak and while the advisors have already begun working on their mandate, an official announcement is not expected for a while longer,” the person said.
It is noted that last month, Piraeus Bank made a combined bid for state run banks Hellenic Postbank and ATEBank.
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
