Fresh from the acquisition of Cyprus Bank Ancoria earlier this year, the founder of XM.com and the Costas Cleanthous shareholder auditor apparently received a significant share in another Cypriot institution, which became an investor in the oldest and wider Greek language newspaper, Philefteros.
Phileleftheros ran a pair of articles over the weekend, effectively announcing that Costas Cleanthous had become a “strategic investor” to the company, without providing accurate details about the size of his investment or his exact share of the company. The newspaper ran a article Mr. Cleanthous himself is entitled to Costas Cleanthous: As for his past, but with his eyes firmly in the future, Phileleftheros will continue to write history first to write history. THE other articleA longer interview with Mr. Cleanthous brought the title Kostas Cleanthous: The values and ideals that defined my path as a businessman and as a personAnd it revises the story of XM, and the latest aspirations of Tancoria Bank and now Phileleftheros.
Costas Cleanthous also holds The Forest Park Hotel in Cyprus.
The articles seem to show that Mr Cleanthous will indeed have control of Phileleftheros and will be able to influence his editorial direction, with statements such as “Phileleftheros is going to evolve”.