Greece to Sell ‘Significant’ Stake in Piraeus Bank in Months (1)

Greece is planning to sell a large portion of its stake in Piraeus Bank SA soon, according to Prime Minister Kyriakos Mitsotakis, who added that the country was in the beginning of a long-term growth cycle.

“We can expect news on Piraeus Bank soon,” Greek Prime Minister Kyriakos Mitsotakis said in a Bloomberg Television interview with Francine Lacqua in Davos Friday. “We need more competition in the banking sector,” he said, adding that they still need to decide if the state will sell part or all of its 27% stake in the lender.

Greece’s economic growth in 2023 is ...