Greece may not sell OPAP stake -finmin
ATHENS, July 28 | Thu Jul 28, 2011 5:33am EDT
ATHENS, July 28 (Reuters) -
Greece expects to raise about 400 million euros from extending the licence of gaming monopoly OPAP (OPAr.AT) but wants to examine whether selling its stake in the company is the best way to raise money, Finance Minister Evangelos Venizelos told lawmakers on Thursday.
According to EU and IMF reports, Greece is due to extend the concession of OPAP, Europe's biggest betting company, in the third quarter and sell its 34 percent stake in the company in the fourth quarter of this year as part of a drive to raise 50 billion euros from privatisations by 2015.
"We have not pledged to sell OPAP, we have pledged that we will have revenues from OPAP (to reduce) the public debt," Venizelos told lawmakers. "The cabinet will appraise what is the best way to raise the revenues targeted."
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