August 29, 2012 / 11:03 AM / 6 years ago

SocGen confirms in talks to sell Geniki to Piraeus

The logo of French bank Societe Generale is seen at the entrance of its headquarters in La Defense, outside Paris, January 31, 2008. REUTERS/Philippe Wojazer

PARIS (Reuters) - French bank Societe Generale on Wednesday confirmed that it was in talks on a potential sale of its Greek unit Geniki Bank to Piraeus Bank, saying the discussions were at an “advanced stage”.

SocGen added that no decision had been made by either party on a transaction, and potential terms were not disclosed.

The talks had earlier been reported by Reuters citing a source at Piraeus.

Reporting By Christian Plumb

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