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In U-turn, Greece will sell Piraeus Port stake in weeks

From Reuters:

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country’s deputy prime minister told China’s official Xinhua news agency, a flip-flop from the leftist government as it seeks funds from its creditors.

The Syriza government of Alexis Tsipras took power in January on promises to end painful austerity, saying it would halt a string of privatisations including the sale of a 67 percent stake in the Piraeus Port Authority (OLP).

China’s Cosco Group was among five preferred bidders shortlisted under a privatisation scheme agreed by the previous conservative-led government as part of a 240 billion euro ($261 billion) bailout programme which Tsipras is seeking to renegotiate.

More at Reuters

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