Privatizations are turning into mission impossible for Greece. Yesterday the auction to put Depa - a public gas company - on the market went deserted. According to the Wall Street Journal, which cites sources from the agency that manages privatizations in Greece, no offer has been made. Even Gazprom, the Russian energy giant, appeared to be the most probable buyer on the eve.
The situation is more than delicate, since the sale of public assets is a fundamental measure of the recovery program imposed by the EU and the IMF in exchange for international aid. All the more because Depa was considered one of the most attractive companies on the market.
According to the technicians in Athens, part of the blame must be attributed to the European Antitrust, which has raised the fear of an excessive concentration of European assets in the hands of Gazprom, discouraging the Russians from making any offers.
However, a Gazprom spokesman explained that the decision was taken into consideration of the "significant risks" of a deterioration in Depa's financial position before the deal could be closed.
