Greece sells 33% of Opap to Emma Delta

Investment fund Emma Delta has successfully bought 33% of Greek gambling monopoly Opap in Greece's first big privatisation.

The much-delayed deal went through after the Greek-Czech fund, the sole bidder for the stake, raised its offer.

Emma Delta's initial bid of 622m euros ($812m; £526m) had been rejected by the authorities for being too low.

Greek Finance Minister Yannis Stournaras said the privatisation had been "successfully completed".

However, he gave no further details and did not disclose the final sum paid.

The fund had been urged to bid at least 650m euros, though the stock market values Opap at just 726m euros.

Greece is obliged to raise 9.5bn euros from asset sales by 2016 under an international bailout plan.

In return, the European Union and the International Monetary Fund have committed to 240bn euros since 2010 in rescue loans for recession-hit Greece.