National Bank of Greece (NBG) is likely to raise its offer for rival, Alpha Bank, The Wall Street Journal reports. NBG’s previous $3.8 billion all-stock offer was rejected by Athens-based Alpha’s board on February 18. Under the current offer, Alpha Bank would appoint the Chairman, the deputy chairman and an equal number of executive directors. The Greek government has been asking banks to explore alliances as a way to gain better access to wholesale funding markets, adds Reuters.
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