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Greece To Restore Investors Confidence At London Road Show

Greek government’s representatives at the ASE Road Show in London will attempt to reverse the negative impressions of the previous presentation of the privatization plan. 

Just a day after the official Commencement of the Hellenic Republic Asset Development Fund, Greece focuses on promoting abroad the acceleration of reforms, starting with privatization. 

The presentations has been undertaken by the qualified Secretary of the Treasury G.Christodoulakis. The deputation is required to convince investors about the economic outlook and Greece’s ability to sell assets directly. 

Yesterday, the Biministerial Committee on Privatisation approved at a brief conference call a part of memorandum of understanding provisions to be implemented a month earlier than scheduled.  

There was no official announcement of the decision, but officials said that it was an approval of the cabinet’s decisions on Tuesday, as announced by Finance Minister Evangelos Venizelos. 

Information indicates that the target to raise €1.3 billion in September would be partly achieved. This means that there should be agreements on a deal even if the funds flow in October (similarly as Hellenic Telecoms). 

Officials noted that the Fund acquired the rights of extension and new licenses of betting company OPAP, Athens International Airport, sale of gas company DEPA, Hellenic Gas Transmission System Operator, Hellenic Petroleum and the first package of real estate assets.

Meanwhile, the Athens Stock Exchange attempts to regain foreign investors’ interest through the sixth annual Road Show, which takes place on Thursday and Friday in London. Approximately 160 fund managers and more than 110 funds with assets of €3 trillion are expected to participate.
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