Piraeus Bank Shares Soar 15 Pct After Atebank Deal

Shares in Greece’s Piraeus Bank soared 15 percent on Monday after the lender agreed to take over the healthy assets of struggling state-owned lender ATEbank on Friday.

“The market is reacting positively to the deal and it is waiting to see what will happen as far as the wider restructuring of the banking sector is concerned,” said Takis Zamanis, head of trading at Beta Securities.

Reuters