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OA majority stake on offer

The government appears to be proceeding with the sale of a majority stake in national carrier Olympic Airways<.>

The government appears to be proceeding with the sale of a majority stake in national carrier Olympic Airways<.> following a meeting between National Economy Minister Yiannos Papantoniou, Transport Minister Christos Verelis and financial adviser Credit Suisse First Boston (CSFB<.>).

CSFB informed the ministers on the progress of recent contacts with potential strategic investors.

Papantoniou said talks with international firms had begun and that within the month CSFB will deliver proposals on the method, size of the stake and required legislative changes.

The government indicated that it wanted all domestic routes to be maintained as well as current staff wage levels.

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