The preferred investor is to be selected in record time, by end-June. The sale is on the list of ‘prior actions’ under Greece’s third economic adjustment programme. A successful privatisation would send a positive signal to international investors about greater economic openness and the government’s willingness to embark on unpopular market reforms, thus increasing the likelihood of a ‘clean exit’ from the bailout programme on August 20.
Middle Eastern and Russian investors are unlikely to be shortlisted because of national security considerations.
Helpe would reap potential benefits from improved access to upstream segments of the market.
The firm's dominant market position will require national energy security concerns to be addressed both pre- and post-privatisation.
Increased earnings repatriation by new owners might run contrary to Greek economic interests.
