Affects: Readers tracking XM corporate, staffing and operational developments
Costas Cleanthous, XM's co-founder and majority owner, reached a preliminary agreement to acquire about 55% of Cyprus-based Ancoria Bank, subject to central-bank approval. The source repeatedly states that the purchase is personal, that XM is not involved and that the bank would have no association with the broker.
Key points
- The reported stake is approximately 55% and the deal was preliminary.
- Regulatory approval from the Central Bank of Cyprus was still required.
- XM is not the acquirer and is not expected to be associated with the bank.
What this means
Readers tracking XM corporate, staffing and operational developments
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