Greece's HFSF to Sell Significant Stake in National Bank of Greece

Greece's bank bailout fund HFSF plans to initiate the sale of up to 12% of its stake in the National Bank of Greece early next week. The sale is expected to start on Monday and conclude by Wednesday, according to officials familiar with the matter.

Greece's bank bailout fund HFSF is set to initiate the sale of up to a 12% stake in the National Bank of Greece early next week, two officials with knowledge of the plan disclosed on Tuesday.

"Our plan is to start the process for the sale of 10%-12% on Monday and conclude by Wednesday," one official told Reuters.

A second official corroborated the timeline. HFSF currently holds an 18.4% stake in the National Bank, Greece's second-largest lender by market value.