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Eurobank slams Alpha Banks decision to scrap merger plan

Greeces Eurobank said on Wednesday that Alpha Bank violated its obligations when it decided to scrap a planned merger of the two lenders.

ccording to Reuters, Alpha pulled the plug on the merger last month on what would have been Greeces largest bank merger in decades but instead became a casualty of the countrys bond restructuring.

"The decision to unilaterally recall the merger procedure of the two banks, which had already been approved by the general shareholders meetings and the relevant authorities, is the only violation of contractual obligations," Eurobank said in a bourse filing.
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