Greek State can now sell 100% of all SOEs

The government is breaking the "taboos" of privatizations and proceeding to remove the legal restrictions of the past decade that forbade the State to sell additional shares of SOEs.

By a legislative act signed on Thursday, the State can now sell 100% of its SOE shares.

The State control for safeguarding State and public interest will be entrusted to independent regulatory authorities that will be involved in the privatization process.

According to a statement by the Finance ministry, "the Council of Ministers signed a legislative act for the removal of the minimum rate of the Greek government in Hellenic Petroleum, PPC, OPAP, ODIE, EYDAP, EYATH, Post Office, and the Port Authorities of Piraeus, Thessaloniki, Alexandroupoli, Volos, Eleusina, Igoumenitsa, Heraklion, Kavala, Corfu, Lavrio, Patra and Rafina. The supervision of the privatization process will be ensured by the State with the functioning of independent regulatory authorities that will concurrently guarantee the public interest regarding the operation of these enterprises."

The hearing on those proposed for appointments to the posts of chairman and chief executive on the Board of the Hellenic Republic Asset Development Fund (H.R.A.D.F.) was held on Thursday under the relevant parliamentary committee. The SOE parliamentary committee gave a positive response to the suggested appointment of T. Athanasopoulos and Y. Emiris, who are expected to be appointed immediately.