Update on Prem Watsa's Interest in National Bank of Greece

By Holly LaFon,

Shutterstock photo

After Wednesday's announcement , National Bank of Greece ( NBG ) has issued another statement this morning regarding the possibility of Prem Watsa 's Fairfax Financial Holdings ( FFH ) investing in the company. Here it is in its entirety:

"Further to its announcement yesterday and in reply to a more recent question from the Hellenic Capital Market Commission, National Bank of Greece wishes to make it clear that Fairfax Holdings' expression of interest concerned participation in the amount of up to ?1.5 billion in the recapitalization of the NBG Group. The said expression of interest remained at an early stage, given the fact that it required certain changes in the existing legal framework for recapitalization of systemic banks which, in any case, lie beyond the competence of NBG."

Read More:

About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: Investing
Referenced Stocks: NBG

More from GuruFocus




Follow on:

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com