Greece to Seek Lower Asset Sale Target
Thursday, 01 January 1970
Greece plans to ask foreign lenders to revise its asset sales target after it failed to sell natural gas firm DEPA which was expected to fetch some 1 billion euro, Reuters reported, quoting a senior government official.
"We will ask the creditors to push back those receipts to 2014," the official, who asked not to be named, told Reuters.
Under the terms of its EU/IMF bailout, Athens has a binding target to raise at least 1.8 billion euros from privatisation revenues by the end of September and an indicative one to raise at least 2.5 billion euros by the end of this year.
Athens has raised some 2 billion euro over the past two years.
Prime minister Antonis Samaras ruled out taking new austerity measures to compensate for the shortfall, the news agency added.