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Lithuania plans to swap bank shares

Jul 08, 1999
Paul Beckman

VILNIUS - Moving the state's stake in Zemes Ukio Bankas, Lithuanian's fourth largest bank, into private hands has proven to be a sluggish process at best. Last fall, Lithuanian government officials rejected the winner of a privatization tender saying the offer was simply unacceptable.But now, the government is planning to swap at least part of its stake. If all goes well, some state-owned shares will be exchanged for the European Bank For Reconstruction and Development's stake in Vystymo Bankas ...

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