Alternative plan for privatization of DEPA

Greece on Wednesday presented an alternative proposal to privatize its gas utility DEPA to its international lenders, hoping to reach an agreement later this week, its energy minister said.

The proposal was made as Athens and representatives from its European Union and International Monetary Fund creditors resumed talks on the country's final bailout review, aiming to secure an initial agreement on the Greek reform progress by May 24.

"We submitted our proposal and there will be a consultation so that we conclude on Saturday," Energy Minister Giorgos Stathakis told reporters after meeting mission chiefs from the EU and the IMF.

Under its bailout-mandated privatization scheme, Greece should have launched the sale of its 65 percent stake in DEPA earlier this year.

But Athens proposed on Wednesday that DEPA be broken into two entities; one for the...