TAIPED pushes for OTE, AIA stake sales

TAIPED pushes for OTE, AIA stake sales

Privatizations fund TAIPED has started the process for the sale of its holdings in OTE telecom and Athens International Airport (AIA). It is now commissioning financial consultants to be tasked with coming up with a utilization model and assisting the process until transactions are complete.

The stakes in question concern 5 percent of OTE’s share capital and 30 percent of AIA shares. According to sources, the TAIPED board is on Wednesday expected to approve the selection of Deutsche Bank and Eurobank as its consultants for the AIA transaction, following a tender proclaimed in April. In a previous meeting it ratified the hiring of Credit Suisse and Piraeus Bank for the concession of the OTE stake.

TAIPED’s decisions are related to the ongoing third bailout review, as the implementation of the privatizations program forms an integral part of the program.

The contracts point to the timetable TAIPED has set, since consultants for the OTE sale will be hired for 12 months and those for AIA for 14 months.

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