Laiki to announce merger plan with Marfin, Egnatia

Laiki Bank officials are expected to announce details of their plan to proceed with a three-way merger with Marfin and Egnatia, with the possible inclusion of Dubai Finance at a later stage. An official announcement is due from the Laiki Group Wednesday morning, which will be followed by an extensive press conference at noon, where more details will be presented by senior officers from Marfin and Laiki.

Unconfirmed reports suggest that Laiki Bank will have a higher weighting than originally thought, but there are also doubts regarding the way with which the valuations will be made paving the way for a three-way merger, which may see the headquarters of the new group moving to Nicosia.

Meanwhile, a number of analysts have expressed reservations at unconfirmed reports emerging from Greece according to which there will be added weight to the market capitalisation of the three groups, when the valuations are made.

The answer to such reports and suggestions will hopefully be given today clearing a wave of uncertainty that has in recent weeks affected Laiki Bank’s share price.