Hochtief withdraws from talks

What appeared to be a near-certain privatization deal seems to have fallen through. German company Hochtief has left the negotiating table for the extension to Athens International Airport?s concession contract.

The Greek side was aiming at a new agreement with the German side amounting to 400-500 million euros, of which some 200 million would have been cashed in immediately.

However, the sale of Hochtief subsidiary Hochtief Airport was canceled, leading the company to ends its talks with the Greek government. This was followed by negative responses from Hainan and Chinese Investment Corporation, the other suitors that Athens contacted.