Ni­cosia to per­sist with Cyta pri­va­ti­za­tion ef­fort

Kathimerini English - - Focus -

LON­DON (Reuters) – Cyprus will try again to push through the sale of a mi­nor­ity stake in state telecom­mu­ni­ca­tions com­pany Cyta, Fi­nance Min­is­ter Har­ris Ge­or­giades said on Mon­day. “We are find­ing it dif­fi­cult [to pri­va­tize Cyta]...” Ge­or­giades said at an event at the Lon­don School of Eco­nomics. “But we will have another go.” Cyprus has been at­tempt­ing to sell a stake in Cyta as part of a sweep­ing pri­va­ti­za­tion pro­gram that was part of an EU/IMF bailout in 2013. Ge­or­giades added that the port of Lar­naca should also be pri­va­tized this year and that plans to sell the coun­try’s state lot­tery were pro­gress­ing.

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