ECONOMY

Intralot denies taking part in bidding for Greece’s OPAP

Gaming systems provider Intralot on Friday denied being part of one of the two groups which bid for a stake in betting monopoly OPAP, being sold by the government.

Athens had on Wednesday received two bids for the 33 percent stake in OPAP, one of its most valuable assets with a total market value of about 2.2 billion euros, its privatization agency said.

Bidders included activist US investment fund Third Point, which made fat profits on a speculative investment in deeply discounted Greek government bonds last year, and Emma Delta, a group controlled by Greek shipowner George Melisanidis and Czech investor Jiri Smecj.

The agency did not reveal any further details on the bidders but there was speculation that Intralot, which is OPAP’s technical supplier, might have teamed up with Third Point.

“The company did not submit a binding bid as part of the tender process,” Intralot said in a bourse filing.

[Reuters]