Despite numerous stops and starts, the privatization of Greek railway service operator Trainose is proceeding and it appears there will be a positive outcome.
Sources familiar with the matters say that despite the derailment efforts by government officials and the Trainose board, appointed by Transport Minister Christos Spirtzis, the agreement for the sale of 100 percent of the company will be possible in the next two or three weeks. This will also pave the way for the announcement of a new tender for the sale of railway carriage maintenance company Rosco, which failed to arouse investment interest in early July.
Thursday will see the opening of the bid by Ferrovie dello Stato Italiane SpA for Trainose. Given that Trainose has cash reserves of 25 million euros, any offer above 40 million would be seen as satisfactory.
However, regardless of the bid, state privatization fund TAIPED will ask for it to be raised. As the money aspect is not that important, it is estimated that the Italian firm – better known by its commercial name Trenitalia – will satisfy the Greek side because it is eager to expand abroad.
Sources also say a new tender for Rosco will be announced very soon, with Trenitalia likely to show an interest rivaling France’s Alstom and Germany’s Siemens.