ECONOMY

TAIPED speeds into OPAP sell-off in rush for revenues

The Eurogroup deal reached on Greece’s funding and debt late on Monday appears to have prompted the state privatization fund (TAIPED) to pick up the pace, as its board will on Wednesday draft the short list of participants in the sale process for a 33 percent stake in gaming company OPAP.

Sources suggest that all eight companies and consortiums that have expressed an interest in the process are expected to be short-listed for the second round, which concerns the submission of binding offers.

TAIPED had originally signaled that the second round of the tender procedure would concern nonbinding offers, but that is extremely unlikely now, as the fund is desperate to show some revenues from privatizations as soon as possible. That would cover the Eurogroup decision’s clause regarding sell-off revenues, which must reach a specific amount, and would make up for this year’s delays.

The future private status of OPAP is generating concern among its competitors, with the Remote Gambling Association (RGA) yesterday sending a letter to TAIPED warning that it would resort to local and international tribunals against OPAP’s monopoly on Internet betting in Greece.