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Reply #35


Response to Demeter (Original post)

Sun Sep 15, 2013, 07:56 AM

35. Cyprus eyes investors, may not need full privatization-president

http://www.reuters.com/article/2013/09/15/us-cyprus-bailout-privatisations-idUSBRE98E06N20130915

(Reuters) - Cyprus may need to only partly privatize state-owned enterprises to meet one of the conditions of its international bailout, its president was quoted as saying on Sunday.

The 10 billion euro ($13 billion) bailout deal Cyprus reached with the European Union and International Monetary Fund this year envisages selling some state assets.

Authorities could convert state enterprises into joint-stock companies and seek out strategic investors with the state retaining a controlling stake, President Nicos Anastasiades said.

"Part of the share capital could be allocated to a strategic investor, without full disengagement (of the state) from semi-government corporations," Anastasiades was quoted as telling the Kathimerini Cyprus newspaper.

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