Update: OPAP Not to Be Sold Before 2013

Greece to wait for cash a bit longer

According to the Greek government's privatization chief, Costas Mitropoulos, further delays in the privatization process will force the cash-strapped nation will to complete only the sale of its state lottery firm and a building in Athens this year.

This implies that Greece will not be able to collect the Euros 3.2 billion in proceeds it planned to raise this year, since the privatization of firms like betting company OPAP, natural gas company DEPA, gas grid operator DESFA, and Hellenic Petroleum will have to wait for next year.

Due to 'administrative delays,' Mitropoulos said, "there can be financial completion of only two projects this year - the state lottery and the IBC."

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