Cosco Group’s plan to acquire a majority stake in the port of Piraeus seems to have been dented by a last-minute obstacle.
At the same time as the Greek parliament was voting on the proposed takeover late Wednesday, the Chinese shipping conglomerate sent a letter to the Hellenic Republic Asset Development Fund (HRADF) expressing its objections.
Cosco says the Greek government has violated a number of important clauses that were either amended or deleted, compared to the initial draft agreement between the two parties.
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