This content is from: Corner Office

Greece To Create SWF For Assets Sale

The Greek government is seeking to sell stakes in state-owned companies and form a sovereign wealth fund.

The Greek government is seeking to sell stakes in state-owned companies and form a sovereign wealth fund (SWF), Financial Times reports. The government will sell stakes in OTETelekom, Postbank, the ports of Athens and Thessaloniki and the Thessaloniki water company.

The fund, which will comprise of privatisation and real-estate assets, will accelerate the process. The government has been asked by the European Union and the International Monetary Fund to raise around €50 billion in privatisation revenues by 2015.

Click here for the story from Financial Times.

Click here for additional coverage from Bloomberg.

Related Content