Energy minister says PPC not ready for selloff yet

Environment and Energy Minister Kostis Hatzidakis says that financially troubled electricity utility PPC is not yet attractive enough to private investors despite the fact that its stock price has tripled since late May.

In an interview to ANA-MPA state news agency, Hatzidakis indicated that the governmebt could seek to sell PPC divisions, but not the whole company.

"The company may have been (stabilized), but it still faces many challenges and a 'horizontal' privatization would not be attractive for would-be investors," Hatzidakis said.

He added that 60,000 consumers account for half of the unpaid bills to the company.

[ANA-MPA]