Bidder For Greek Railways, Not Athens Ledra Hotel

Italy's rail operator bid 45 million euros for Greece's rail system but the closed Athens Ledra hotel didn't draw any offers.

ATHENS – Italy’s state-owned rail operator has bid 45 million euros ($50.19 million) for Greece’s rail system but the closed Athens Ledra hotel didn’t draw any offers.

The board of Greece’s state privatization fund TAIPED approved the tender from Ferrovie Dello Stato Italiane for the sale of Greek railway service operator Trainose.

The bid for the privatization of 100 percent of the debt-laden Greek company was far higher than expected as Prime Minister and Radical Left SYRIZA leader Alexis Tsipras continues to push the sale of Greek assets he vowed to stop before taking office and succumbing to demands from international creditors.

The Italian company will have to deal with Trainose’s notorious unreliability and the same day the offer was accepted, unions struck, shutting down service, in a protest over the sale.

Meanwhile, in a private pending sale, the auction of the Athens Ledra Hotel, a former member of the Ledra Marriott chain, has been postponed to September, after a first round drew no bidders.

The hotel, located on Syngrou Avenue, closed its doors in late May following financial difficulties and was up for sale at 47.8 million euros ($53.31 million) but that’s expected to be lower in a second round.

The hotel’s 200-strong staff and members are owed about five million euros ($5.58 million) in salaries and other compensation, Kathimerini said.