The only real success in Greece’s privatization program, the sale of its stake in the gambling monopoly OPAP, is starting to unravel.
Emma Delta, which won the bid said it won’t accept conditions that bind it with the providers of the OPAP’s subsidiary company, State Lottery. Emma Delta made this clear via an extrajudicial paper sent to the seller, the Hellenic Republic Asset Development Fund (TAIPED).
The agency told the bidder that the conditions were known at the time when the competition took place and, therefore, the company should be aware of them.
Emma Delta is standing firm and threatening to withdraw from buying OPAP, which would be a disaster for the government which is under intense pressure from international lenders to speed the sale or lease of state assets.
Earlier this year there wasn’t a single bid for the state gas company DEPA and Greece was counting on OPAP’s sale to kick start more interest in other state entities.
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