After deciding to purchase a bank, Costas Cleanthous, co-founder and majority owner of contracts for differences (CFDs) broker XM, has bought Cyprus’ newspaper group, Phileleftheros, according to Cyprus Times.
A Major Media House in Cyprus
With the acquisition, Cleanthous gained a controlling stake in the publishing group. It also appears that he bought the newspaper in a personal capacity.
However, the financials and other terms of the deal remain unknown. Cleanthous’ plans for the publishing group also remain unknown.
Another interesting story from Cyprus: Exness Bought €75 Million Land from the Bank of Cyprus
Established in 1955, Phileleftheros is the largest and oldest Greek-language newspaper in circulation in Cyprus. It still publishes physical copies of its legacy newspaper and a football-focused daily.
According to its website, the Phileleftheros group also publishes eight magazines, which cover topics ranging from fashion to food and from business to design. Some notable local versions of international magazines published by the group are Insider and Forbes Cyprus.
Despite its legacy, the Phileleftheros group also has a presence in digital media. The group maintains thirteen websites, which include the digital versions of its two physical newspapers in circulation.
Cleanthous’ Interests Outside the Brokerage Business
In April, Cleanthous was in the process of acquiring about 55 per cent of Cyprus’ Ancoria Bank, becoming the bank’s controlling shareholder. He was joined in the deal by businessman and banker Charalambos Panayiotou, who was in the process of acquiring 25 per cent of the bank.
Despite Cleanthous’ deep involvement in XM, the broker was not involved in acquiring the bank in any capacity. It was a deal by Cleanthous in his personal capacity.
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However, his interest in the bank did not come abruptly. Before deciding to take the controlling stake, he and Panayiotou held less than 10 per cent of the bank’s share capital. After the new deal, they would effectively control 80 per cent of the bank together.
Meanwhile, Cleanthous’ interest did not stop at the bank and the publishing house. He also proceeded to acquire the Forest Park Hotel in Platres, which started operating in 1936.
After deciding to purchase a bank, Costas Cleanthous, co-founder and majority owner of contracts for differences (CFDs) broker XM, has bought Cyprus’ newspaper group, Phileleftheros, according to Cyprus Times.
A Major Media House in Cyprus
With the acquisition, Cleanthous gained a controlling stake in the publishing group. It also appears that he bought the newspaper in a personal capacity.
However, the financials and other terms of the deal remain unknown. Cleanthous’ plans for the publishing group also remain unknown.
Another interesting story from Cyprus: Exness Bought €75 Million Land from the Bank of Cyprus
Established in 1955, Phileleftheros is the largest and oldest Greek-language newspaper in circulation in Cyprus. It still publishes physical copies of its legacy newspaper and a football-focused daily.
According to its website, the Phileleftheros group also publishes eight magazines, which cover topics ranging from fashion to food and from business to design. Some notable local versions of international magazines published by the group are Insider and Forbes Cyprus.
Despite its legacy, the Phileleftheros group also has a presence in digital media. The group maintains thirteen websites, which include the digital versions of its two physical newspapers in circulation.
Cleanthous’ Interests Outside the Brokerage Business
In April, Cleanthous was in the process of acquiring about 55 per cent of Cyprus’ Ancoria Bank, becoming the bank’s controlling shareholder. He was joined in the deal by businessman and banker Charalambos Panayiotou, who was in the process of acquiring 25 per cent of the bank.
Despite Cleanthous’ deep involvement in XM, the broker was not involved in acquiring the bank in any capacity. It was a deal by Cleanthous in his personal capacity.
You may also like: Singapore to Block Access to Octa and XM for Unlicensed Operations
However, his interest in the bank did not come abruptly. Before deciding to take the controlling stake, he and Panayiotou held less than 10 per cent of the bank’s share capital. After the new deal, they would effectively control 80 per cent of the bank together.
Meanwhile, Cleanthous’ interest did not stop at the bank and the publishing house. He also proceeded to acquire the Forest Park Hotel in Platres, which started operating in 1936.
This post is originally published on FINANCEMAGNATES.
