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June 02, 2010

Greek government confirms OSE privatisation

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THE GREEK government confirmed today that it plans to sell 49% of Hellenic Railways Organisation (OSE) as part of a privatisation programme designed to reduce the country's massive public debt.


OSE, which has debts of nearly Euros 10 billion, features in an initial tranche of privatisations alongside water companies and the postal service.

As a condition of its Euros 110 billion bailout by the European Union (EU) and International Monetary Fund (IMF), Greece has pledged to complete a privatisation plan by the end of the year with the aim of raising this amount.

A full report on the impact of the financial crisis on Greece's railways can be found in the June issue of IRJ.
 
Photo: Philip Wormald
 
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