Fosun refuses bridge finance to Folli Follie

Chinese group Fosun, which controls 16 percent of Folli Follie, refused a request by the troubled Greek jewelry maker for a 20-million-euro loan the listed company needs to meet its obligations by end-January, when its streamlining plan application is to be examined by an Athens court.

Meanwhile, Friday saw the departure from the board of Hellenic Duty Free Shops of chairman Tzortzis Koutsolioutsos and member Dimitris Koutsolioutsos, who were instrumental in the Folli Follie group’s entry into the duty-free store chain’s share capital.

Swiss parent company Dufry, which controls the majority stake in HDFS, has instead appointed Georgios Velentzas as executive chairman.

Velentzas has long been the company’s managing director.