Piraeus Bank, Proton cancel share swap

Piraeus Bank and Proton Bank said their boards had agreed to cancel a share swap agreement, after Proton said it would take part in a government bank rescue plan.
"Piraeus Bank's board announces it has accepted Proton Bank's request … and signed an agreement to cancel the buyout agreement," Piraeus Bank said in a stock exchange filing.
Last week Piraeus, Greece's fourth-largest lender, said it had reached an agreement with Proton's main shareholders to buy a 26.98 percent stake in the small lender in a share swap.