Bank of Cyprus: Reuters U.S. billionaire Wilbur Ross said on Tuesday that he will take a significant portion of the 1 billion euros 791 million worth of new shares being sold by Bank of Cyprus but that the complexities of the deal made it impossible to say how much at this point, according to Euro News. The development marked a dramatic rehabilitation for a bank that in 2013 was the first euro zone lender to convert large uninsured deposits into bank shares, a move required as a condition of 10 billion euros Cyprus EU/ IMF rescue and By Laura Noonan Bank of Cyprus said on Monday that institutional investors, including some introduced by Ross, wanted to buy 1 billion euros worth of its shares, but might only be able to get 800 million euros worth if existing shareholders also commit more capital.
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