ECONOMY

Sell-off of state firms set to start

The government is next week expected to approve the program of privatizations, with the favorites being those companies already listed on the local bourse. Government sources suggest that the target of an inflow of 2.5 billion euros from privatizations is attainable, with the minimum set at 1.5 billion euros. The decision has already been taken to bring in a strategic investor at TRAINOSE, the Hellenic Railways Organization (OSE) subsidiary; the investor will get 49 percent of the company as well as its management. The organization’s real estate assets will also be utilized to increase revenues. The management of the Athens and Thessaloniki water and sewage companies (EYDAP and EYATH respectively) will also be given to private investors along with a stake of up to 23 percent in the case of EYATH and 10 percent in EYDAP. Yet for the moment there seems to be no significant movement in the banking sector. Similarly, there have been no developments regarding Public Power Corporation or OTE telecom.