Anek Lines

The Competition Commission has unanimously approved the takeover of troubled ferry company ANEK Lines by Attica Group.

Attica Group will take on some €80 million in ANEK debt and will give the Cretan company's shareholders shares equal to an 11.5% stake in the group. After deliberating for 10 months, the commission decided that ANEK is a failing company.

Concern is growing among ferry operator ANEK Lines' employees, creditors and suppliers about the completion of its rescue by Attica Group, following indications that the Competition Commission will request commitments from Attica that may change the economic logic of the deal, thereby alienating the largest Greek ferry company from discussions on an agreement.

Italian firefighters at the port of Brindisi have recovered the main black box data recorder from the Norman Atlantic ferry but there are fears that it may have been seriously damaged by the fire that broke out on board.

Another black box had been discovered on Friday. Italy?s Rai TV reported that authorities believe the fire may have been caused by a short circuit.

Three Greeks were killed in the Norman Atlantic ferry disaster and another nine are missing, according to the latest figures provided by Greek authorities.

The fate of 29 Greeks and several other passengers who are thought to have been on board the Norman Atlantic ferry was still not known on Tuesday night as authorities in Greece and Italy attempted to clear up discrepancies regarding the ship’s manifest and the people who had been rescued from the vessel.

All passengers and crew were evacuated from the stranded Norman Atlantic ferry on Monday, as 10 deaths were confirmed, but rescue teams continued searching in the Adriatic Sea amid concern that dozens of people who were on board the ship may be missing.

Rescue teams working through the night have pulled 265 people off a stricken car ferry which caught fire off the coast of Greece but more than 200 are stranded on board, the Italian navy said on Monday.