Spain will sell state assets to raise cash

Posted: December 6, 2010 in Politica si politici

Spain stepped up efforts to fight contagion from Europe’s debt crisis, saying it will sell stakes in its lottery and aiport-operating businesses to raise 14 billion euros ($18.3 billion) and cut a one-time jobless benefit.

The government, which said in January it had no plans to sell the lottery, will dispose of 30 percent of the company, Prime Minister Jose Luis Rodriguez Zapatero said in Parliament in Madrid today. It will also allow the Madrid and Barcelona airports to be privately managed and let investors buy as much as 49 percent of a new operating company, Aena-Aeropuertos. The sales will raise around 14 billion euros, said a government official who declined to be named in line with policy.

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