The Board of Directors of Laiki Group is expected to take critical decisions on its next strategic movements at the meeting scheduled for Tuesday, September 19. According to sources, at Marfin’s meeting held yesterday no final decision was taken on the consolidation of the Group with the Popular bank, however this will be determined on Tuesday. Laiki Group intends to hold a press conference on Wednesday, September 20 to announce its next strategic steps and the model of the new organization that will emerge.

The Head office of the new bank will probably be in Nicosia. According to Greek reports, Dubai Investments is reviewing all plans for the strengthening of its role in Marfin Financial Group, while the model that will be adopted for the merger has reached its final stage.

Sources reveal that the share of the new bank will trade in three stock exchanges: the CSE, the ASE and the Dubai stock exchange. The “separation” of shares will be carried out on the basis of the stock market value of the three banks.

According to Greek reports, Dubai Investment might submit a public offer to Marfin Financial Group at an exceptionally high and competitive price, definitely higher that €29. However, in his statements to Bloomberg, Marfin Vice Chairman, Andreas Vgenopoulos said that he is not aware of the issue (which holds 30.8% of the MFG shares).