An official of the privatization committee of Greece's Finance Ministry said on Thursday that the country has decided to sell its largest port, Piraeus Port, to overseas buyers.
Greece previously shortlisted five overseas companies, including China's COSCO, at the end of 2014 to compete for the port's 67 percent stake. But the bidding was suspended after the new government took office.
The re-bidding now begun, with invitations sent to three companies, and China's COSCO is involved again. But the stake up for bid was cut to 51 percent. The Greek government has said that all bidders need to provide documents before September, with the result too be announced between the end of September and early October.
COSCO, which owns 35-year operation rights for Piraeus' No.2 and No.3 ports, is considered a strong player in the bid.