Guest commentary: An emerging market in the European Union

Article Abstract:

The Greek government's economic policies have placed strong emphasis on privatization as one potential way of reducing inflation. There have been a number of significant privatization deals in 1998, including the listing of KAE (Hellenic Duty Free Shops) on the Athens Stock Exchange through a $83 million initial public offering and the sale by the Greek government of $392 million of its shares in National Bank of Greece, the largest bank in Greece. Many observers believe that the Greek privatization programme will face significant challenges in the future, with extensive structural reform possibly being required if the privatization programme is to continue.

Economic policy

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Greece sells Agricultural Insurance

Article Abstract:

In January, Greece successfully completed the IPO of a 21% stake in Agricultural Insurance, raising around Dr9.3bn (US$33.2m). The company's 1997 profits totalled Dr1.94bn (US$6.9m) were the highest in the country for insurance companies.

Comment:

Greece complets IPO of Agricultural Insurance, raising Dr9.3bn (US$33.2m) on 21% stake

Insurance, Insurance Carriers and Related Activities, INSURANCE CARRIERS, Insurance industry, Agricultural Insurance

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Greece plans fourth telecoms offer

Article Abstract:

In July, Greece plans to sell 13% of telecom OTE (Hellenic Telecommunications Organisation) in its fourth offering, reducing its share to 51%. The sale is expected to raise around Dr300bn or US $987m.

Wired Telecommunications Carriers, Telephone Communications, Telephone communications, exc. radio, Telecommunications services industry, Telecommunications industry, Telephone services, Hellenic Telecommunications Organization S.A.

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