The developments in the acquisition of Emporiki Bank run fast and the players that participate in the deal do everything to achieve their goals. The Bank of Cyprus Group, which sees Piraeus Bank increasing its stake in the bank on a daily basis (8.19%), does not exclude the possibility of submitting a new public offer in case that a third player submits a bid for the acquisition of the bank or Credit Agricole proceeds to a revised offer.

In an interview to newspaper “Imerisia”, BOC Higher Executive Manager, Andreas Eliades said that the presence of another bank is not an extra benefit, referring to the increase in the stake that Piraeus Bank holds in BOC.

Mr. Eliades also said that the Bank of Cyprus’ movements will depend on the possible public offers by other players.

On the other hand, Credit Agricole, whose prospectus has been approved by the Greek SEC via its Managing Director, Georges Pauget, is confident about its offer, since it is in cash.

Marfin

Meanwhile, Marfin seems to have acquired 2% of Piraeus Bank. According to Greek reports, Mr. Vgenopoulos said that the Group will decide on the issue. “If we see that it is a real opportunity for us, we will submit our bid. It is not easy for a Group with a capitalization of €1.2 - €1.3 billion such Marfin to proceed to an acquisition of €4 billion. Besides, we have done so many things this year”, Mr. Vgenopoulos said.

Alpha Bank

It is still unknown what Alpha Bank plans to do with the public offer for the acquisition of Emporiki Bank. It is worth noting that the deadline expires on July 25.