The tender for the sale of the Piraeus Port Authority (OLP) may be extended or even at risk of being declared unsuccessful, should privatization fund TAIPED not be satisfied with the offer made.

The privatization funds’ governing board has arranged to meet on Wednesday in order to discuss the latest offer by Cosco. A TAIPED officer told the Naftemporiki newspaper that the Fund may request an improvement of the offer made or even declare the tender unsuccessful.

Reports suggest that the negotiations between the privatization fund and the Chinese shipping and logistics giant are carrying on, however Cosco’s first offer has not been made public.