June 8, 2018 / 6:08 PM / 2 years ago

Greece receives improved offer for railway maintenance company

ATHENS (Reuters) - Greece received an improved offer from Italian railway operator TrainOSE for railway maintenance company ROSCO, a source close to the procedure told Reuters on Friday.

TrainOSE, which was taken over by Italy’s Ferrovie dello Stato Italiane last year, had submitted the only binding offer in March. The bid was deemed too low by Greece, which asked the operator to raise its offer.

Greece has not disclosed how much it has been offered, but Athens has earmarked proceeds of 5 million euros (4.39 million pounds) from the sale in this year’s budget plan.

The sale is part of Greece’s bailout-mandated privatisation programme, which is targeting total revenue of 3 billion euros by 2019.

Reporting by Angeliki Koutantou; Writing by George Georgiopoulos; Editing by David Goodman

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