Greece Limits Private Investments in State Companies

[admin]

Greece limited private ownership in strategic state-controlled companies on Friday, in a move analysts said aims to protect telecoms group OTE from a buyout fund whose biggest shareholder is based in Dubai. The conservative government said the law would come into effect immediately, stopping any investor from buying more than 20 percent of companies such as OTE and energy utility Public Power Corp (PPC) without government approval.
"This is an important statutory regulation for our country and for securing the public interest," Finance Minister George Alogoskoufis told reporters.



Bravo... this will prevent other countries like Dubai and Saudia Arabia buying out our entire country like they did in the US...

[Macedonian]

I understand the logic here.