26/05/2004 12:46
Cyprus’ three largest banks BOC – CPB – HB are considering accepting the bill of indictment of the Competition Protection Committee on a banking cartel among the three, StockWatch sources revealed on Wednesday.
“All possibilities are reviewed. Everything is open”, bank circles who preferred to retain their anonymity told StockWatch.
On the other hand, CPC Chairman refused to comment on the latest information. Responding on the question by StockWatch whether there are problems in the process after the resignation of the CPC member, Evangelos Sykopetritis, Mr. Tsielepos said that hearing had not started at that time. “We were just on negotiations with the banks on the possibility of accepting the indictment”, Mr. Tsielepos noted.
Mr. Tsielepos said that the Committee is now expecting the official appointment of its new member, Mr. Leontios Pericleous with the publication of his appointment in the Gazette.
Mr. Tsielepos also insisted that there was no hearing before the resignation of Mr. Sykopetritis and the process has not been affected by it. Mr. Pericleous is the Deputy Manager of the Commerce Ministry Competition and Consumer Protection Service.
The legal advisors of BOC, CPB and HB have submitted their final pleading to the CPC, together with other attached documents and the support of their arguments.
The case started a few months ago, when CPC ascertained a “possible uniformity” in the banking charges. The banks had originally rejected the allegations for a cartel.
“All possibilities are reviewed. Everything is open”, bank circles who preferred to retain their anonymity told StockWatch.
On the other hand, CPC Chairman refused to comment on the latest information. Responding on the question by StockWatch whether there are problems in the process after the resignation of the CPC member, Evangelos Sykopetritis, Mr. Tsielepos said that hearing had not started at that time. “We were just on negotiations with the banks on the possibility of accepting the indictment”, Mr. Tsielepos noted.
Mr. Tsielepos said that the Committee is now expecting the official appointment of its new member, Mr. Leontios Pericleous with the publication of his appointment in the Gazette.
Mr. Tsielepos also insisted that there was no hearing before the resignation of Mr. Sykopetritis and the process has not been affected by it. Mr. Pericleous is the Deputy Manager of the Commerce Ministry Competition and Consumer Protection Service.
The legal advisors of BOC, CPB and HB have submitted their final pleading to the CPC, together with other attached documents and the support of their arguments.
The case started a few months ago, when CPC ascertained a “possible uniformity” in the banking charges. The banks had originally rejected the allegations for a cartel.
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