PHOTO
A money changer counts Euro banknotes at a currency exchange office in Nice, France November 17, 2017. Eric Gaillard, Reuters Image used for illustrative purpose.
Greece's bank rescue fund HFSF said on Monday it has initiated the process to sell a 1.4% it holds in Eurobank.
Interested investors can submit offers from Sept 25 to Oct 6, it said, adding that Eurobank had already submitted an offer on Sept. 22 for a targeted share buyback. Eurobank won shareholder approval in July to buy back the stake.
During the country's financial crisis which broke out in 2010, the state-controlled HFSF acquired stakes in Greece's four largest banks in turn for injecting about 50 billion euros to recapitalise them. (Reporting by Angeliki Koutantou; Writing by Renee Maltezou)