Hellenic Petroleum sell-off stalls as no bids made

No binding bids have been submitted for a majority stake in Greece's biggest oil refiner Hellenic Petroleum, dealing a blow to a key part of a planned sell-off of state assets mandated by international bailouts.
Switzerland-based commodities trader and miner Glencore had teamed up with CIEP Participations, and Vitol, the world's largest oil trader, with Algeria's Sonatrach after they were shortlisted to bid for a 50.1 percent stake in Hellenic.
Greece's privatisation agency said the lack of bids was "due to reasons related to the short-listed parties and recent developments in the international environment that affect the consortia." It did not elaborate.
An agency official told Reuters that potential investors had made demands beyond what Greece could satisfy. Veto rights and a bigger role for minority shareholders after the deal may also have put prospective...