Piraeus Bank, Greece's fourth largest lender, on Thursday withdrew its offer to buy government stakes in ATEbank and Hellenic Postbank after the government took too long to decide on the bid, its deputy CEO said.
"Two and a half months after expressing interest for ATEbank and Hellenic Postbank, Piraeus Bank withdrew its interest after seeing that the pertinent (government) decisions are not to be expected in the immediate future," Deputy Chief Executive Stavros Lekkakos said.
Greece, which wants to shore up its lenders against the effects of the country's debt crisis, had hired HSBC, Deutsche Bank and Lazard to produce proposals on how to go about it and evaluate Piraeus Bank's offer, reviving speculation that some of its banks could merge.
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