Financial News: Greece to announce privatization actions this week

The Greek government is expected to announce as early as this week three significant concession contracts as part of an ambitious privatization program for the year, George Christodoulakis, secretary-general of privatizations, said on Monday.
In a radio interview, Christodoulakis said the government has pledged to raise around 5.0 billion euros by the end of the year from privatizations and that in this framework the ministry has scheduled a series of transactions -of very high quality- which are not based on the business cycle, such as renewing a concession contract for the Athens international airport, renewing a concession contract for OPAP’s older games and selling licenses for video lottery terminals.
He underlined that the government has scheduled the privatizations of DEPA, Hellenic Petroleum, OPAP, selling new generation mobile telephony frequency licenses and a sale-and-lease back program for several state buildings.
Christodoulakis acknowledged, however, that prices would be lower because of global financial crisis, saying “it is impossible to sell at 2008 prices, although the Greek state is making moves aimed at securing benefits”.
Commenting on the sale of Hellinikon -the former Athens airport site- he said that ministry authorities have accelerated procedures to appointing financial advisors to the sale.

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