 NBCNews.com | Defensive move: Greek bank to buy local branches of troubled Cyprus banks NBCNews.com Piraeus was chosen in a deal that helps to shield Greek banks from the island's crisis and allows Cyprus to shrink its bloated banking sector. The deal, announced by Greece's bank bailout fund, is subject to approval by European competition authorities. Greek bank to buy local units of Cypriot lenders Greece's Piraeus to take over Cypriot banks' Greek units: sources Cyprus agrees to spin off Greek units of Cypriot banks |
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