markets as they face several tests of sentiment in coming months. Two bankers who handle bond sales for Greece pointed to that country’s return to bond markets in April 2014 as an example of a deal that relied heavily on hedge fund demand to its detriment. “Hedge funds bought a large part of the debt but when it sold off, they were desperate to get rid of it,” said one of the primary dealers, who declined to be named as they are not authorized to speak publicly on the matter. This year, all of the 50-year and 70-year bonds issued by eurozone governments have suffered sharp losses against the backdrop of a broad bond sell-off. closed by foreign counterparts since the Balkan state became the only European country to be put on a European Union list of countries that pose a high risk to the financial system, bankers said yesterday. “[This]... has put in jeopardy the operation of banks and clients, regardless of whether they are firms or individuals,” Bosnia’s Bank Association (UBBiH) warned in a statement.
Russian billionaire Mikhail Fridman could take control of mobile phone operator Turkcell after fellow shareholder Cukurova failed to declare an intent to buy a disputed 13.2 percent stake by a court deadline, a source close to the matter said yesterday.