PPC, OTE, ELPE stakes must go for gov't to meet sell-off target

Only by selling its holdings in major listed companies such as OTE telecom, Hellenic Petroleum (ELPE) and Public Power Corporation, can Greece's privatizations program meet the targets agreed with the country's creditors.

Greece's bailout deal provides for revenues of 4.5 billion euros from the utilization of state assets by end-2018 and the disappointing pace of progress on that front will certainly form part of the agenda of talks with creditors this fall.

So far this year, the concession of 14 regional airports, the Lito hotel on Myconos and the Modiano Market in Thessaloniki have fetched just 1.22 billion euros.

There are, of course, other projects that are under way but the anticipated revenues do not suffice. These are the sale of 67 percent of Thessaloniki Port Authority, a 20-year extension to the Athens International Airport (AIA) lease and the sale of...