ATHENS—Greece's government is drafting plans to split up the country's state-owned power company, a move it hopes will breathe new life into a stuttering privatization program while addressing creditor demands for a radical overhaul of the economy.
According to senior government officials, the plan calls for spinning off roughly one-third of Greece's Public Power Corp., or PPC—the country's one-time monopoly power producer and still dominant market participant—and selling it to private investors. The government would also seek a strategic investor for the slimmed down parent company, which would remain under state control.
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