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Economy
In reply to the discussion: STOCK MARKET WATCH -- Monday, 8 April 2013 [View all]xchrom
(108,903 posts)23. Greek bank shares plunge after merger plans called off
http://www.bbc.co.uk/news/business-22061879
Shares in Greek banks have fallen up to 30% after plans to merge two of them them were called off on fears the new entity would be too big to manage.
National Bank of Greece (NBG) and Eurobank fell by 30% in morning trade, while Alpha and Piraeus lost up to 20%.
On Sunday, a finance ministry source said a planned merger would not now go ahead, although the four would be recapitalised.
There had been fears a merged bank would be too dominant in the market.
Shares in Greek banks have fallen up to 30% after plans to merge two of them them were called off on fears the new entity would be too big to manage.
National Bank of Greece (NBG) and Eurobank fell by 30% in morning trade, while Alpha and Piraeus lost up to 20%.
On Sunday, a finance ministry source said a planned merger would not now go ahead, although the four would be recapitalised.
There had been fears a merged bank would be too dominant in the market.
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