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TIRANA, June 21 – The Commission of Competition approved the sale of 75 percent of the shares of Banka Popullore to the French bank Societe General S.A. on Thursday.
The remaining 24.99 percent of the shares will continue to belong to the nine Albanian shareholders who founded the bank.
The ownership transferred to the French bank is equal to 11.056 shares, the announcement said.
The commission said the transfer does not change the structure of the banking system in Albania, as the purchase by the French is linked only to the bank itself.
The commission also said that such a concentration will not effect competition in the nation’s banking industry.
Based on that conclusion, the commission authorized the stock transfer.
