Lottery and tolls go to private owners
13.05.2011
11:50
The Troika is giving a last chance to the government to avoid endangering the 5th installment, and is asking for a quick consensus for the adoption of measures for austerity and the reduction of deficits to avoid putting the memorandum at risk after the next national elections.
The Troika is giving a last chance to the government to avoid
endangering the 5th installment, and is asking for a quick consensus for
the adoption of measures for austerity and the reduction of deficits to
avoid putting the memorandum at risk after the next national elections.
This was the message that was conveyed by the envoys, as well as by Olli Rehn from Brussels, since every day that passes proves that the memorandum must be enriched in terms of both context and duration, exceeding the confines of a single governmental term.
However, in the absence of a consensus the reaction of the government includes the acceleration of privatizations and greater coordination of ministries to achieve the aim of 2 billion's worth of revenue in the second part of this year.
It is more than clear for the government that this is an essential condition, since the related revenue will speed up the decrease of the debt and the state’s interest payments. The Troika and EU institutional agents have both turned their gaze to privatizations, and are expecting a clear message from Greece to the markets that it is seriously trying to reduce its debt.
Thus, by the end of this year two special-purpose companies will be created, one for tolls and one for the ottery.
The former will obtain the state's entitlement to the five highways that are under construction. By creating this company the state will have a right to sell shares to individuals, along with a share of future revenue, to collect the funds for debt reduction in advance.
This was the message that was conveyed by the envoys, as well as by Olli Rehn from Brussels, since every day that passes proves that the memorandum must be enriched in terms of both context and duration, exceeding the confines of a single governmental term.
However, in the absence of a consensus the reaction of the government includes the acceleration of privatizations and greater coordination of ministries to achieve the aim of 2 billion's worth of revenue in the second part of this year.
It is more than clear for the government that this is an essential condition, since the related revenue will speed up the decrease of the debt and the state’s interest payments. The Troika and EU institutional agents have both turned their gaze to privatizations, and are expecting a clear message from Greece to the markets that it is seriously trying to reduce its debt.
Thus, by the end of this year two special-purpose companies will be created, one for tolls and one for the ottery.
The former will obtain the state's entitlement to the five highways that are under construction. By creating this company the state will have a right to sell shares to individuals, along with a share of future revenue, to collect the funds for debt reduction in advance.
The government will be able to make use of its monopoly in national and state lotteries in the same way. Again, individuals will buy shares from the special-purpose company that will aggregate the company's profits as assets.
The big fish
But for this year the two major privatizations will be of OTE and DEPA.
Finance ministry authorities have stressed that Deutsche Telekom never denied their interest in OTE, despite the negative articles in the international press. However, they are asking for a general clean up in the organization so that their investment will have better prospects.
Concerning DEPA, the natural gas network operated by DESFA will remain under the control of the state regardless of ownership structure, as it became clear in the energy bill. Foreign and domestic energy companies have expressed their interest. However, they are expecting to see what exactly will be sold, as well as what will happen to the current participation of Greek Oil (35%) and PPC’s option for the acquisition of 30% of the company.
The coming months will see:
* the completion of negotiations on the full privatization of the Parnitha casino
* the extension of the Hochtief AG management contract for the Athens international airport
* the renewal of permits for slot machines operated by OPAP
* the promotion of LARKO and TRENOSE
Finally, it has been decided to accelerate the process of the recruitment of consultants for the extension of the OPAP contract, for concessions to regional airports, ports, offshore natural gas storage.Αlmost all the recruitments of consultants for the privatization operations and use of public property should be completed by the end of the second quarter of 2011.
The big fish
But for this year the two major privatizations will be of OTE and DEPA.
Finance ministry authorities have stressed that Deutsche Telekom never denied their interest in OTE, despite the negative articles in the international press. However, they are asking for a general clean up in the organization so that their investment will have better prospects.
Concerning DEPA, the natural gas network operated by DESFA will remain under the control of the state regardless of ownership structure, as it became clear in the energy bill. Foreign and domestic energy companies have expressed their interest. However, they are expecting to see what exactly will be sold, as well as what will happen to the current participation of Greek Oil (35%) and PPC’s option for the acquisition of 30% of the company.
The coming months will see:
* the completion of negotiations on the full privatization of the Parnitha casino
* the extension of the Hochtief AG management contract for the Athens international airport
* the renewal of permits for slot machines operated by OPAP
* the promotion of LARKO and TRENOSE
Finally, it has been decided to accelerate the process of the recruitment of consultants for the extension of the OPAP contract, for concessions to regional airports, ports, offshore natural gas storage.Αlmost all the recruitments of consultants for the privatization operations and use of public property should be completed by the end of the second quarter of 2011.
Ακολουθήστε το protothema.gr στο Google News και μάθετε πρώτοι όλες τις ειδήσεις
Δείτε όλες τις τελευταίες Ειδήσεις από την Ελλάδα και τον Κόσμο, τη στιγμή που συμβαίνουν, στο Protothema.gr
Δείτε όλες τις τελευταίες Ειδήσεις από την Ελλάδα και τον Κόσμο, τη στιγμή που συμβαίνουν, στο Protothema.gr