Greece is preparing to sell a 20% stake in National Bank of Greece as part of its divestment plan for the country’s lenders.
The move is expected to take place mid-November, people familiar with the matter said, asking not to be identified as the details aren’t public yet. The aim is to attract as many long-term investors as possible.
The Hellenic Financial Stability Fund, a bank recapitalization tool established at the start of Greece’s bailout programs, holds about 40% of National Bank, whose market value was almost €5 billion ($5.3 billion) on Wednesday. But it has decided against divesting it all at once.
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