Greek govt halts Piraeus port sale

COSCO insists deal will bring more jobs, economic prosperity to European nation

Greece's new government has halted the privatization of the country's biggest port Piraeus, a state selloff in which China Ocean Shipping (Group) Co had already expressed a strong interest.

COSCO, the world's second-largest shipping company, and four other suitors were seen as potential buyers of a 67 percent stake in Piraeus Port Authority OLP last year under the scheme agreed by the previous government.