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Greece

FT: "Greece’s privatization of OPAP faces investigation"

  An Athens prosecutor is investigating Greece’s biggest privatization deal to date, regarding the sale of OPAP to a group of Czech, Russian, Slovak and Greek investors. OPAP was the State’s gambling monopoly and the country’s biggest sports sponsor. These are...

OPAP's Privatization 'Not a Done Deal' SYRIZA Leader Claims

The privatization of OPAP, the former state betting agency, "is not a done event," main opposition Radical Left Coalition (SYRIZA) leader Alexis Tsipras warned on Friday in Athens. "For us, the national crime of privatizing OPAP, especially under the scandalous...

OPAP Privatization Faces Court Challenge

With its sale of a stake in the state gambling monopoly OPAP to a Greek-Czech consortium unraveling over bickering over some of the details, the Greek government is now facing another challenge from the Remote Gambling Association (RGA) which...

OPAP's Privatization Hits A Snag

Already setback by the failure to get any bids for its state gas company during a privatization push, Greece now has run into a roadblock over last month's sale of a 33 percent stake in the gambling monopoly OPAP...

Greeces Hopes OPAP Sale Speeds Privatizations

Greece Prime Minister Antonis Samaras said the sale of gambling monopoly OPAP shows that Greece is serious about making reforms as a condition of rescue aid.  The deal, which will give Czech-Greek consortium Emma Delta a 33 percent stake...

OPAP: €40 Million Offer for Horse Race Betting License

The Greek Organization of Football Prognostics (OPAP) will bid for the country’s horse race betting license, after teaming up with a British fund manager, just days after the Hellenic Republic Asset Development Fund (HRADF) rejected the sole offer in...

Greek Betting Company OPAP Offers Voluntary Redundancy Program

Greece’s betting company is offering a voluntary redundancy program to its 900 employees. Last year a majority stake in OPAP was sold to Czech-Greek fund Emma Delta, marking the country's first major privatization, as indicated by the Troika of...

Troika Pushes Greece On Privatization

International lenders are asking Greece to increase the pace of privatizing state enterprises to meet fiscal targets and complete unfinished reforms. The IMF-EU-ECB Troika envoys are visiting Athens to discuss how the government will close a 2.4 billion euro gap...

The 33% Stake of OPAP to Emma Delta

The Hellenic Republic Asset Development Fund (TAIPED) transferred today, after having secured all necessary approvals, a 33% stake in OPAP to the Emma Delta fund. The Emma Delta had clinched a deal with the Hellenic Republic Development Fund S.A...

Emma Delta to Buy OPAP on Friday

The countdown for the completion of the privatization of OPAP has started, and before the Athens' Bourse opens on Friday, Greek-Czech fund Emma Delta will have completed the acquisition of 105 million shares in the gaming company and paid...

Privatization's Next Stop: Greek Railways

With Prime Minister Antonis Samaras trying to figure out who will replace Stelios Stavridis, the former head of the country's privatization agency who was forced to quit after he accepted a ride on the private jet of a businessman...

OPAP Deal Finally Concluded

After much wrangling and doubt whether the deal would go through, Greece has signed a 652-million euro ($867.95 million) agreement to sell off 33 percent of  the state-controlled gambling monopoly firm OPAP to the Greek-Czech investment consortium Emma Delta. It...

OPAP's Sale Uncertain, Bidder Objects

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...

OPAP's Bidder Has Some Questions

The Greek-Czech group Emma Delta, which has bid 652 million euros ($847.06 million) for a 33 percent state in the Greek gambling monopoly OPAP is quibbling with the country's privatization agency TAIPED over some of the terms. OPAP has left...

Greek Privatization Plans Hit Snags

Despite the recent sale of a 33 percent stake in the gambling monopoly OPAP and the burgeoning sell-off of state gas companies, Greece's privatization effort is still far behind plans insisted upon by international lenders. Stelios Stauridis, President of TAIPED,...