The Greek government is holding a beauty parade to find advisers for the sale of its stakes in bailed-out financial institutions, according to local reports, joining the ranks of European states sizing up investment banks as they seek to offload positions built up during the financial crisis.

The Hellenic Republic is looking to appoint three advisers to assess its stakes in the banks and advise on the re-organisation of the banking system, according to Greek daily Imerisia. The Greek Ministry of Finance could not be reached for comment.