Minor shareholders won't sell

The National Bank of Greece (NBG) is interested to take over the remaining stake of some 18% in Banca Romaneasca (Romanian Bank – BR) and to this end has made offers to the minor shareholders. But some of them have already rejected the offer, as “it does not reflect the bank’s real value.” “I did receive an offer from NBG to sell my 6.8% stake in BR, but I have already declined, although the deadline was March 31, 2004, as I found it unrealistic. First, the bid fails to reflect the bank’s real value and, second, I did not think it was fair to lose the dividends for 2003, as the bid stipulated, after selling my shares,” Ion Basgan, one of BR’s minor shareholders, told Ziarul Financiar. ZF