Defending Euroleague champions Olympiacos Piraeus won 89-72 at Caja Laboral on Friday to improve to 4-2 (wins-losses) in this season's competition.
They join Anadolu Efes Istanbul - 77-71 winners against EA7 Emporio Armani Milan - in a tie for second place in Group C.
Caja Laboral got off to a strong start as they entertained the Euroleague's reigning champions Olympiacos.
But the Spanish side could not keep that early momentum up and by the second quarter, Dusko Iavnovic's side were in trouble.
Olympiacos led by ten in the second.
After the hosts clawed their way back to within five in the third, the Greek side pulled away for good.
Papanikolaou tallied 13 points and 9 rebounds, Josh Powell netted 12 and Georgios Printezis scored 11 as Olympiacos ran out comfortable 89-72 winners.
This was Caja Laboral's worst home defeat since a 2009 playoff loss to Barcelona.
As for Olympiacos - they keep pace with Anadolu Efes Istanbul in second place in Group C.
One man proved vital in the fixture against EA7 Emporio Armani Milan - Sasha Vujacic.
The former LA Laker hit a Euroleague career-high 29 points on 6-of-8 three-point shooting.
Vujacic had 17 points in the third quarter as Efes regained their lead, it was 54-52, after 30 minutes.
The Slovenian kept going in the final minutes, the hosts finishing victors by 77 points to 71.
Sasha Vujacic on top form for Anadolu EfesSunday, November 18 2012