Italian railway company prepared to snap up TRAINOSE and EESSTY

7 July 2016
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The Italian state-owned railway company Ferrovie Dello Stato Italiane SpA will have a prominent position in the Greek railway, as it has made an offer for TRAINOSE as well as rolling stock maintenance company EESSTY.

Although there were rumors that French firm Alstom was prepared to make a bid for the rolling stock maintenance company, ultimately interest came from the Italian company. To Vima has been informed that the tender for EESSTY will be reviewed, since there is a ten-year contract with TRAINOSE in place.

Meanwhile the Ministry of Transport and privatization fund TAIPED are blaming each other for delays in the EESSTY privatization. Some reports claim that the Greek government has not fulfilled certain financial obligations towards the company, while the Ministry blames TAIPED for its tactics.

In any case, Wednesday’s developments were decisive as they saved the Greek government, saving it 750 million euros. If there was no interest expressed for TRAINOSE on Wednesday, the company would like be dissolved, in which case the Greek government would have to pay back about 750 million euros worth of subsidies, which the European Commission held are illegal.

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