Morgan Stanley ups Greece holding in Alpha Bank to 5.1%

Morgan Stanley has increased its holding in Alpha Bank to 5.1% from 4.965%, the Greek lender said in a bourse filing on Monday, adding that the transaction was unsolicited.
Alpha Bank rejected an all-share offer by larger rival National Bank to merge in February. It was the first move after calls by Greek officials on banks to explore tie-ups to better cope with the country's debt crisis.
Alpha Bank said Morgan Stanley acted as National Bank's main adviser on its proposed merger with Alpha, which NBG said was friendly.
On Sunday a senior Alpha executive told the Financial Times the bank, Greece's third-largest lender, plans to stay independent and that NBG's approach was hostile.
Shares in Alpha Bank were up 6.5% on Monday, underperforming an 8.25% gain in the Athens bourse's banking index, after euro zone leaders struck an unexpected deal to strengthen the bloc's bailout fund and lowered the interest rate on Greece's emergency funding.