Halt called to Thessaloniki Water sale

By Giorgos Lialios

State sell-off fund TAIPED announced on Monday that it was freezing the privatization process for the majority stake in the Thessaloniki Water Company (EYATH).

According to the fund’s official statement, TAIPED will re-examine the ways in which the company can be utilized following the new conditions to have emerged as a result of a Council of State verdict regarding the Athens Water Company (EYDAP) as well as the reaction from the local community.

The decision of the CoS plenary on EYDAP stated that the company’s privatization “renders uncertain the continuation of the supply of its affordable utility services and of its quality which is not fully safeguarded by state monitoring alone.” It added that “EYDAP services are supplied on a monopolistic basis to a large population [...] by unique networks in the area,” which also applies in EYATH’s case.