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Credit Agricole (CA) was getting closer to acquiring Emporiki Bank, Greece's fourth-largest bank, as EB went to press, following the withdrawal of a higher rival bid by Bank of Cyprus (see EB 252) and the French bank's own submission of an improved offer for the bank.
According to Mirko Sanna, an analyst at Keefe, Bruyette & Woods, CA's acquisition of Emporiki is now "almost certain", given that no other bids were submitted for the Greek bank prior to the 20 July deadline. "I don't...