- Greece: The Greek government has signalled that the December 2004 tender for Greek public airline OLYMPIC AIRLINES failed to find a rescuer for the ailing carrier (accumulated loss of EUR 107.1 mil since 2003) and the government will soon be setting up a mixed company. It has published draft legislation to set up a new company in which the state would have a minority stake, with private investors running the company. The EU competition authorities required the airline to refund EUR a 700 mil illegal state aid to the Greek state. - Hungary: The UK's BAA and German companies FRAPORT and HOCHTIEF are bidding for a 75% stake in Budapest Airport. The Hungarian state hopes to raise more than EUR 1.55 bn from the sale. - Turkey: French companies GROUPAMA and AXA are among the five companies bidding to acquire Turkish insurance company BASAK SIGORTA (annual turnover of around EUR 220 mil in loss insurance and EUR 60 mil in line insurance).