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Eurobank Takes Command with Over 98% Stake in Hellenic Bank

by News Editor

April 11, 2025

In a significant corporate development, Eurobank recently completed its mandatory public offer to significantly increase its stake in Hellenic Bank, now owning a substantial 98.46% of the bank’s issued share capital. This move follows the public offer, which closed on April 9, 2025, adding 4.99% to Eurobank’s previous 93.47% stake.

Over the coming months, Eurobank plans to exercise its squeeze-out right, aiming for full acquisition. As outlined in their takeover announcement, the bank intends to acquire all remaining shares at a price of €4.843 each.

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This transaction, completed with Cyprus Investment and Securities Corporation Limited (CISCO) serving as the advisor and underwriter, is set to reshape the Cypriot banking landscape, aligning with broader trends in regional economic transformations.

Upon completion, Eurobank’s acquisition will mark a pivotal moment in Cyprus’ financial scene. The increase in ownership follows regulations under the Public Takeover Bids Law, ensuring compliance throughout the process.

The acceptance rate for this takeover bid stands at 4.989%, with attention to final verification potentially leading to minor adjustments. Stay tuned as we monitor this significant acquisition and consider its implications for the dynamic Cypriot market.

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Baidu Robotaxi Outage In Wuhan Leaves Vehicles Stalled On Roads

The Wuhan Incident: A Wake-Up Call For Autonomous Mobility

Baidu’s Apollo Go robotaxi fleet encountered a significant system failure in Wuhan, China, leaving some passengers stranded for up to two hours. Local police reported that at least 100 vehicles were affected by the malfunction, with media coverage and social media posts capturing moments where vehicles abruptly froze in dangerous locations, including high-speed roadways. While Baidu has not disclosed the details behind the technical error, investigations continue into the incident.

System Failures And The Path Forward

The incident highlights operational risks associated with autonomous vehicle systems. Similar disruptions have occurred in other markets. A recent power outage in California affected vehicles operated by Waymo, interrupting service. Baidu continues to expand its robotaxi operations, including plans to deploy more than 1,000 vehicles in Dubai.

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Industry Implications And Regulatory Considerations

The outage raises questions about system reliability and operational safety in urban environments. Authorities and industry participants are reviewing safety protocols and system requirements as deployment expands. Regulatory frameworks and technical standards are expected to remain a focus as autonomous mobility services scale in multiple markets.