May 1 - Greece agreed to sell a stake in gambling monopoly OPAP to investment fund Emma Delta on Wednesday. The country's finance minister said it was their first big privatisation. Edward Baran reports.
Some positive economic news for Greece. It's concluded its first big privatisation, selling a controlling stake in gambling monopoly OPAP to an investment fund. Athens needed to complete the sale to show it was finally making good on promises to try to sell off state assets and cut debt - as demanded by its EU/IMF bailout. Investment fund Emma Delta met Athens' demand to raise its offer for Greece's most profitable firm to 650 million euros, according to officials involved in the sale. The Czech-Greek fund was the sole bidder in the race to buy a 33 percent stake and management rights in OPAP.