ECONOMY

Minoan cancels sale of HSW stake

Coastal shipping firm Minoan Lines announced the cancellation of the sale of a 33.35 percent stake in Hellenic Seaways to rival ANEK as the latter has failed to pay the 25-million-euro installment agreed for 2010.

As a result, Iraklio-based Minoan is taking over again at Hellenic Seaways and is relaunching its bid to find a new buyer. However, this does not rule out a fresh agreement with Hania-based ANEK, owned by Yiannis Vardinoyiannis.