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Greece’s First Privatization Deal Since Third Bailout Hits Snag

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First Greek Privatization Deal Hits Snag

Greece’s first privatization agreement since the country’s third bailout hit a snag just one day after the government announced the deal’s approval.

A government council overseeing state asset sales said on Tuesday that Fraport AG and a unit of Greece’s Copelouzos Group had won a 40-year concession to operate 14 regional airports for 1.2 billion euros ($1.32 billion). Fraport commented afterward that the decision was “not tantamount to the conclusion of a contract but rather offers a basis for the resumption of negotiations.”