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Greece mulls selling stakes in PPC, OTE - reports
Wed Apr 13, 2011 8:21am GMT
* Govt to outline privatisation plans this week
* Plans for OTE more advanced, no decision yet on PPC-reports
* Govt has repeatedly ruled out selling stake in PPC
ATHENS, April 13 (Reuters) - Greece is considering selling a 10 percent stake in power utility PPC (DEHr.AT: Quote) and a similar stake in telecoms operator OTE (OTEr.AT: Quote) as part of plans to cut its debt, Greek newspapers wrote on Wednesday.
The ruling Socialist government is due to announce by the end of the week details on its target to raise 50 billion euros from privatisations by 2015, as well as a 2012-2014 fiscal plan.
Several Greek newspapers said on Wednesday, without naming any sources, that selling a stake in PPC, which is 51 percent state-owned, was one of the options being considered but that no final decision had yet been taken.
"OTE's case seems to be at a more advanced stage. If there is a government approval, then the sale of a 10 percent stake of the organisation will go ahead this year," Kathimerini daily said.
"As far as PPC is concerned, Finance Minister George Papaconstantinou seems to have suggested the further privatisation of the company by selling some of its plants," it said.
Other newspapers including financial daily Imerisia and Ethnos also wrote that the government was looking into selling stakes in the two companies.
Government officials have so far repeatedly ruled out selling a stake in PPC.
A Finance Ministry official said on Wednesday: "As far as I know nothing has changed ... There is nothing new."
The official said the government was likely to announce its plans on Thursday.
PPC controls more than 90 percent of the country's 6 billion euro electricity market. The EU and the IMF are pushing Greece to dismantle the company's near-monopoly but PPC's powerful labour unions fiercely oppose its privatisation.
Kathimerini also said, again without quoting a source, that the government might extend the concession for betting monopoly OPAP (OPAr.AT: Quote) and was considering reducing its stake in the company next year.
Wed Apr 13, 2011 8:21am GMT
* Govt to outline privatisation plans this week
* Plans for OTE more advanced, no decision yet on PPC-reports
* Govt has repeatedly ruled out selling stake in PPC
ATHENS, April 13 (Reuters) - Greece is considering selling a 10 percent stake in power utility PPC (DEHr.AT: Quote) and a similar stake in telecoms operator OTE (OTEr.AT: Quote) as part of plans to cut its debt, Greek newspapers wrote on Wednesday.
The ruling Socialist government is due to announce by the end of the week details on its target to raise 50 billion euros from privatisations by 2015, as well as a 2012-2014 fiscal plan.
Several Greek newspapers said on Wednesday, without naming any sources, that selling a stake in PPC, which is 51 percent state-owned, was one of the options being considered but that no final decision had yet been taken.
"OTE's case seems to be at a more advanced stage. If there is a government approval, then the sale of a 10 percent stake of the organisation will go ahead this year," Kathimerini daily said.
"As far as PPC is concerned, Finance Minister George Papaconstantinou seems to have suggested the further privatisation of the company by selling some of its plants," it said.
Other newspapers including financial daily Imerisia and Ethnos also wrote that the government was looking into selling stakes in the two companies.
Government officials have so far repeatedly ruled out selling a stake in PPC.
A Finance Ministry official said on Wednesday: "As far as I know nothing has changed ... There is nothing new."
The official said the government was likely to announce its plans on Thursday.
PPC controls more than 90 percent of the country's 6 billion euro electricity market. The EU and the IMF are pushing Greece to dismantle the company's near-monopoly but PPC's powerful labour unions fiercely oppose its privatisation.
Kathimerini also said, again without quoting a source, that the government might extend the concession for betting monopoly OPAP (OPAr.AT: Quote) and was considering reducing its stake in the company next year.
