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PP would reverse airport and lottery privatisation

Wed 28th Sep 2011

The economic Coordinator for the Partido popular, Cristobal Montoro, has warned how his party will reverse the steps taken to privatise a number of state held companies if they win November's general election.

Moves to sell off large percentages of the Spanish National Lottery and the Spanish airports authority, AENA, have already progressed under the ruling PSOE government.

Monotro, who is expected to become Minister for the Economy if the PP are voted into power, criticised the scheme: "It is not appropriate to do privatisations in an election period."

Earlier this year the PSOE began the process to privatise 49% of AENA and the Madrid and Barcelona airports, which it expected to make around 5.5 billion euros.

Last week parliament approved the sale of 30% of the national lottery, Loterias y Apuestas del Estado, which is expected to make a further 7 billion euros and would be the biggest privatisation in Spanish history.

Montoro continued, saying how the privatisation process would mean "selling state assets at a loss... it is totally unacceptable."

The Offering of the lottery has been scheduled for October while the sale of 90.5% of the Madrid and Barcelona airports is scheduled for the end of November.

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