AIA stake is cleared for sell-off

The government's Economic Policy Council on Wednesday unblocked the process for the sale of a 30 percent stake in Athens International Airport, in the presence of Prime Minister Kyriakos Mitsotakis.

The ministerial body convened exclusively to reverse the decision the previous government had reached in February, upon the recommendation of former finance minister Euclid Tsakalotos, to force state sell-off fund TAIPED to claim the spot in the AIA board left vacant by the departure of the independent member appointed until then by the European Investment Bank (EIB).

That decision had incited the wrath of AIA's private shareholders, with the Canadians of PSP (who control 40 percent) and the Copelouzos family (owner of 5 percent) refusing to consent to the sale of the 30 percent stake in AIA under the terms.

PSP was quite rightly worried that a possible cooperation...