Greece cancels transfer of water stake to state asset-sales fund

Greece canceled the transfer of a government stake in Athens Water Supply & Sewage Co (EYDAP) to the state-asset sales fund as the move was ruled unconstitutional.

The shift of the 34 percent stake was canceled after a decision by the Greek State Council constitutional court, the utility said Tuesday in a filing on the Athens bourse. The court ruled the sale of Greece’s majority stake in Athens Water unconstitutional, state-run Athens News Agency said May 25.

Greece currently owns 61.3 percent of Athens Water, according to data compiled by Bloomberg. [Bloomberg]