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Piraeus to pay $678 million for Cypriot bank units

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ATHENS, Greece (AP) — Greece's Piraeus Bank reached an agreement Tuesday to buy the Greek operations of three Cypriot banks for 524 million euros ($678 million), as stock markets in Athens were hit hard by the crisis in Cyprus. Piraeus, which was selected last Friday to take over the Greek units of the Bank of Cyprus, Laiki and Hellenic, will see its share of loans in the Greek market rise from...

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