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Cyprus Denies Deal to Sell Cyprus Popular Bank

The Cypriot government denied on Wednesday that it had struck a deal to sell Cyprus Popular Bank to Russian investors as it tries to shore up its crippled banking sector.

The Cypriot government denied on Wednesday that it had struck a deal to sell Cyprus Popular Bank to Russian investors as it tries to shore up its crippled banking sector.

"The government denies reports that the Cyprus Popular Bank has been sold to foreign investors," government spokesman Christos Stylianides said in a statement, giving no further comment. The reports of the deal surfaced in Greek media.

Copyright 2013 by Reuters. All rights reserved.

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