Auctions

The government was licking its wounds Monday after Yiannis Kalogritsas, one of four winning bidders in a recent auction of nationwide television licenses - and under increasing public scrutiny over his suitability as a candidate - withdrew from contention after his company was unable to pay the first installment of the license fee on time.

Following the announcement by Yiannis Kalogritsas, one of four businessmen who won nationwide television licenses in a recent auction, that he was withdrawing from the competition, attention shifted on Monday to the first runner-up in the competition, Russian-Greek entrepreneur Ivan Savvidis.

Yiannis Kalogritsas, the winner of one of four Greek TV licenses in a recent auction, withdrew from the competition on Monday, pointing to a "corrupt circle" that, he claimed, had sought to accuse him of "everything except Kennedy's murder."

One of the four winners of a recent auction for nationwide television licenses, Yiannis Kalogritsas, on Monday sought an extension of 48 hours to pay the first tranche of the fee for the license, a request that was rejected by the Media Ministry, potentially paving the way for his disqualification and replacement by a runner-up in the competition.

The Council of State, the country's highest administrative court, is on Friday to hear the appeal of six television channels against a recent government auction of nationwide TV licenses.

More than seven out of 10 (74.2 percent) Greeks said the government did not handle well the nationwide broadcast license auction last month, according to a poll conducted by MRB on behalf of STAR TV, which was one of the unsuccessful bidders.

A second auction of the Athens Ledra Hotel, a former member of the Ledra Marriot chain, failed to attract bidders on Thursday. Located on Syngrou Avenue, the establishment closed down in May following financial hurdles.

The hotel's starting price on Thursday was 47.8 million euros, unaltered from the first auction held in July.

Public Power Corporation (PPC) warned on Thursday it could be hurt by electricity auctions being planned by Athens to open up the country's power market if pricing is too low.

Representatives of the four private TV channels that won the licenses auctioned off last week will on Monday meet with State Minister Nikos Pappas, government spokeswoman Olga Gerovasili and the general secretary for information and communication Lefteris Kretsos.

A tender for four national TV broadcasting licenses on Greece's digital network was launched on Friday by the government, which aims to wrap up the process before the end of August.