Qatar investment fund weighs stake in Greek bank: report

30th June 2010, Comments 0 comments

The Qatar Investment Authority is considering taking a 5.0-7.0 percent stake in Greece's biggest lender, the National Bank of Greece, a move that would bolster confidence in the debt-ridden country's banking network, the Financial Times reported on Wednesday.

But in Athens, a source close to the bank said he was unaware of any acquisition plans by the QIA.

"There are no discussions" with the QIA, the source said.

"We are not aware of any such intention on their part."

The Financial Times, citing people familiar with the matter, said the proposed stake would be worth 250 million euros (307 million dollars).

The paper added that the investment would help shore up the Greek banking system, which has come under heavy strain as Greece struggles to emerge from a debt and public deficit crisis.

© 2010 AFP

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