ECONOMY

Hellenic Technodomiki seeks out ways to continue bidding for state contracts

Construction company Hellenic Technodomiki is mulling its options as it deals with the fallout from a law barring shareholders with both media and construction stakes from bidding for public contracts. «Conflicts of interest and the restrictions introduced by the law… have resulted in the need (for the company) to examine every possible solution, key of which is the company and its shareholders’ interests,» it said in a stock market filing yesterday. The company did not specify what measures it would take. Local media have reported that its key shareholders, the Bobolas family, could seek to sell their 18.81 percent stake after the failure of talks to sell their majority-controlled media group Pegasus. «The market expects Hellenic Technodomiki to find a solution to the issue. The question is how and when this will happen,» said analyst Christos Samothrakis at Market Securities. Hellenic Technodomiki and subsidiary Aktor are barred from taking part in state projects under the new law, meant to stop media barons from influencing the awarding of state projects.