The Hellenic Republic Asset Development Fund (HRADF), which oversees the sale of several state assets, has reconsidered the sale of 51% of the Thessaloniki Water Supply & Sewage Co., after citizens in northern Greece expressed their disagreement.
The local community has been protesting against the sale of the Thessaloniki water company, especially after the court ruled against a similar proposal of selling the Athens Water and Sewage Company.
On May 18, the residents of Thessaloniki had an unofficial referendum which was almost unanimous against the sale of Greece’s second largest water utility. Furthermore, the Greek constitutional court ruled against the government’s proposal to sell 34% of Athens Water & Sewage Co. (EYDAP) stakes, which is currently the country’s largest water utility.
According to data released by Bloomberg, HRADF owns 74% of Thessaloniki Water Company stakes and the European water and wastewater company Suez Environment Co. owns 5%. The Greek government was planning on selling 51% of its stakes, as a way of reducing its debt.