After Wednesday's announcement, National Bank of Greece (NBG, Financial) has issued another statement this morning regarding the possibility of Prem Watsa's Fairfax Financial Holdings (FFH, Financial) investing in the company. Here it is in its entirety:
"Further to its announcement yesterday and in reply to a more recent question from the Hellenic Capital Market Commission, National Bank of Greece wishes to make it clear that Fairfax Holdings’ expression of interest concerned participation in the amount of up to €1.5 billion in the recapitalization of the NBG Group. The said expression of interest remained at an early stage, given the fact that it required certain changes in the existing legal framework for recapitalization of systemic banks which, in any case, lie beyond the competence of NBG."
"Further to its announcement yesterday and in reply to a more recent question from the Hellenic Capital Market Commission, National Bank of Greece wishes to make it clear that Fairfax Holdings’ expression of interest concerned participation in the amount of up to €1.5 billion in the recapitalization of the NBG Group. The said expression of interest remained at an early stage, given the fact that it required certain changes in the existing legal framework for recapitalization of systemic banks which, in any case, lie beyond the competence of NBG."
