Marfin is officially the big buyer of the 6.8 million shares that changed hands in the CSE on Friday. According to an announcement released early in the morning, the shares were bought at the price of £2.73. This movement falls under the Greek bank’s strategic, announced by its Deputy Chairman and major shareholder, Andreas Vgenopoulos. In early 2006, MFG had acquired a stake of 9.98% at £1.70 per share. On Friday, the share closed at £2.76 and at –1 cent, monopolizing the investors’ interest.

After the latest development, Marfin’s stake in Laiki Bank increased from 10.1% to 11.91%.

The acquisition of CPB shares is part of the plan that MFG intends to adopt. On June 16, Mr. Vgenopoulos had informed the Board members that the Central Bank had already given its permit to Marfin Financial Group to increase its stake in Laiki up to 19%.

Two months later…

It is worth noting that the latest acquisition comes almost two months after SEC’s hints for transactions in closed period. Marfin had complied with the recommendations. The fact that during the closed period certain funds bought shares (which are now disposed) shows that Marfin Group is behind the acquisitions in the latest meeting.