Desiring to sell EYDAP cheaply the Government of Greece is trying to write off more than € 700 m of debts to the company. The Board of the Company (mostly controlled by the Government) will bring the issue in a Shareholders’ Meeting (to be held sometime in October). This way the Company’s value will be lowered by the above sum, the value of its shares will diminish, and its prospective buyers will be able to acquire it for peanuts.
The Government of Greece in an attempt to diminish the market value of EYDAP, is ready to write off more than € 700 m of its, thus making it easier for the prospective buyers to acquire. At the same time part of the sums owed by several municipalities to EYDAP will be paid by the State; this way the citizens will have paid twice, as the sums that are to be covered through taxes have already been paid (to the municipalities) by those who received said water and sewerage services.
Read more of this article by Argyris Demertzis published in Eleytherotypia on the website of SaveGreekWater