TSAVDARIDIS: Deputy Development Minister Lazaros Tsavdaridis probably did little to help himself with his explanations of the case involving his daughter and her allegedly fictitious participation in Pylaia’s championship-winning handball team.
He insisted that his daughter was admitted to the agriculture faculty in Larissa without using the additional points she earned through the team’s sporting achievement.
However, according to a report by Nikos Pappas in Makedonia, the Education Ministry’s records show an application to use the points awarded for sporting achievement, through which the young woman was admitted to the Department of Education in Rhodes!
She did not ultimately enrol in the department, but that is different from not having used the points. Unless we are very much mistaken, athletes with distinctions are admitted through a specific number of additional places.
And, as the report also points out, her failure to enrol meant that the next candidate on the waiting list missed out.
Meanwhile, parents of players and the team’s coach at the time allege that the deputy minister’s daughter did not attend training and did not actually play. She did, however, appear on the match sheets, meeting the requirements for the additional points.
TSAVDARIDIS II: He, of course, maintains that his daughter played as normal and denies any intervention. And this is where money enters the story.
According to a complaint by the parents reported by STAR, the club’s management had linked the young woman’s participation to expected sponsorships and the correction of an “accounting error”.
What is interesting is that the team’s president, George Babaratsas, while denying any such deal, confirms that there was indeed a problem with a €45,000 grant from betting revenues, due to... an accounting error!
He says he approached the office of the minister responsible for sport and was assured that the error would be corrected.
It is worth noting, however, that according to the Sports Ministry’s official figures, the club is listed as receiving a grant of €62,122 for March 2026. How that amount relates to the “accounting error” of €45,000 cited by the president is another question.
As for the Handball Federation, it says the player had a valid registration and was on the bench. Its statement does not answer whether she actually played or attended training.
So we have a case in which the allegations are specific, the contradictions numerous and the answers... general. Deputy Prime Minister Kostis Hatzidakis said that “the matter is being investigated” and that “there will be an internal discussion”.
It remains to be seen, then, exactly what will be investigated, by whom and with what outcome. This case probably needs more than... an internal discussion.
TSIPRAS: Barring a dramatic last-minute change, Alexis Tsipras will not be briefed in person by George Gerapetritis on Saturday about the rapid developments surrounding the cable and French involvement.
Not because Tsipras does not want a briefing, but because diplomatic protocol stipulates that the foreign minister briefs the leaders of parties represented in Parliament.
As is well known, ELAS will remain an extra-parliamentary party until the election, since Mr Tsipras did not want (quite the opposite…) to form a parliamentary group with the MPs leaving SYRIZA.
In theory, Mr Gerapetritis could brief Mr Tsipras in his capacity as a former prime minister. But in that case, he would have to do the same for Antonis Samaras and Kostas Karamanlis.
“Does anyone think the foreign minister would want to take on Samaras right now?” is the rhetorical question being asked, both within and outside New Democracy.
Alexis is certain to receive a briefing, but it will be unofficial and not from the head of Greek diplomacy...
TSIPRAS II: While we are on the subject, this column has noted that the former prime minister will keep the focus on corruption and scandals, having already signalled one of his party’s main election slogans: “honesty or corruption”.
He continued along that path yesterday, meeting fishermen in Preveza at the end of a two-day tour of Epirus.
“When fishermen’s nets are torn and they lose both their catch and the tools of their trade, there is no provision for compensation. But there was provision for Koulkoudinas, with the purchase of a yacht through the Leader programme intended for fishermen,” the former prime minister said pointedly.
The comment referred to New Democracy MP Spyros Koulkoudinas, who received a €200,000 subsidy for a tourist boat rental business in Pieria before being elected to parliament, as he himself clarified.
COCA-COLA HBC: There are changes at the top of Coca-Cola HBC, with Aristea Zoi taking over as vice-chair of the board, replacing Ion Alin Cojocaru, who resigned.
The change takes effect on 1 November, with the new vice-chair also assuming responsibility for general management, corporate representation and the management of bank accounts.
Garyfallia Spyriouni remains chair and Svetoslav-Marinov Atanasov chief executive.
PAPAEllinas: Papellinas Group is proceeding with the absorption of CPO Innova by CPO Greece, with the net assets of the company being absorbed valued at €2.05 million.
The auditors’ report records significant adjustments to the company’s book net assets of €2.79 million. The largest is an impairment of inventories of €591,437, with further adjustments made to receivables and equipment.
The company has trade receivables of €2 million and total borrowings of €1.53 million. The merger brings its medical equipment operations under a single corporate structure.
FAIS: Elsol, a sports goods company associated with Fais Group, has decided to significantly broaden the scope of its corporate activities, adding the development of solar farms and electricity generation to its potential business activities.
The new articles of association also provide for activities in medical equipment, food, real estate and franchising networks.
IL TOTO: The coffee chain appears to be a machine for generating not only coffee but also serious cash. With sales of €22.42 million, up 42.9%, as this column has learned, net profit soared to €6.34 million last year, a rise of 53%.
For every €100 in sales, net profit is €28. Coffee must be a goldmine.
EBITDA reached €8.44 million, cash holdings stood at €4.75 million and there was not a bank loan in sight.
And since coffee is apparently not enough, the company distributed €2 million in profits and also moved into real estate, acquiring Toto Real Estate for €450,000.
JUSTICE: 737 days. That is the average time it takes for a civil case to be heard at first instance in Greece.
The figures explain why Greece ranks second to last in the EU for the performance of its judicial system, according to the JUSPER index compiled by KEFiM.
With a score of 34.8 out of 100, Greece ranks 26th among the 27 member states, ahead of only Cyprus.
The paradox? It has 37.3 judges per 100,000 residents, about twice the European average, but just one support staff member per judge, compared with about three in Europe.
And, as if that were not enough, only 81 cases are resolved for every 100 new cases.
Justice, however, is not only an institutional issue: it is also a factor in investment security, since delays translate into costs, uncertainty and postponed business decisions.
ALLWYN: Analysts at Axia – Alpha Finance and Beta are assessing the two moves by Allwyn in terms of the benefits they could deliver over time, with both aimed at strengthening the group’s control over technology and content.
Axia – Alpha Finance describes the deals as value-creating moves, highlighting that access to Kambi’s source code gives the group greater flexibility in managing sports betting across its individual markets. It also views the full acquisition of IWG, a major supplier of digital instant games in a growing market, as strategically important.
Beta, for its part, focuses particularly on the balance between the costs of integrating Kambi’s technology and the returns it could generate in the future. It notes that Allwyn will need to develop additional central trading, pricing and risk-management functions, with the extra annual cost estimated at close to €20 million from 2027.
That cost, however, is expected to be gradually offset by savings in operating expenses, faster growth in sports betting and synergies with iGaming. For IWG, Beta highlights the 30% increase in adjusted EBITDA in 2025, as well as the fact that the full acquisition simplifies the group’s corporate structure.
In other words, the bet identified by the two brokerages is not limited to the acquisitions. It is about Allwyn’s ability to control more of the value chain and turn that control into higher operating efficiency and growth.
BUILDING RIGHTS: The Ministry of Environment and Energy is now scrambling to put out the fires sparked by the publication of studies on the transfer of building rights.
We understand that the ministry is ready to make even broader changes to ease the backlash that has already emerged, mainly from municipalities in northern Attica.
After all, this is not a last-minute reform. The transfer of building rights has been on the table since 1979, while similar tools have been used for years in other European countries.
The undertaking is far from easy, however. All the more so when the published studies are said to contain even statistical errors and flaws on critical issues.
If the knives are coming out, the calculations should at least be right.
PISTIOLIS: Rubico, whose interests are associated with Evangelos Pistiolis, is acquiring two more newly built MR tankers, each with a capacity of 47,500 dwt, from affiliated Top Ships, expanding its presence in the product tanker sector.
The vessels are being built in China, with deliveries scheduled for the fourth quarter of 2028 and 2029, respectively. They have secured seven-year charters with Trafigura, with an option to extend for a further four years. Total charter revenue over 11 years is estimated at $150.9 million.
The price for the two companies holding the shipbuilding contracts is $14.5 million. Financing will be provided through a sale-and-leaseback arrangement with a Chinese leasing company, which will cover 85% of the instalments.
With the new agreement, Rubico has now acquired five of the ten Chinese MR tankers ordered by Top Ships.
WALLEM: In a move to strengthen its presence in the Greek shipping market, Wallem Group has created a new role of general manager for ship management in Greece, appointing Apostolos Poulovasilis.
The experienced shipping executive has served as CEO of Aegean Shipping Management and previously held the role of chief operating officer (COO) at Eletson Corp. He has more than 35 years of international experience, including 25 years at Lloyd’s Register, where he held roles including head of its operations in Greece and Europe.
In his new role, he will develop Wallem’s Greek office, with a focus on attracting new clients, strengthening relations with Greek shipowners and expanding ship management services. Wallem has an international network of 600 shore-based staff and more than 6,000 seafarers.
FRAGKOU: Navios Maritime Holdings, whose interests are associated with Angeliki Fragkou, has bought back preferred shares worth a total of about $14 million, completing the tender offer it made to holders of the securities in the US.
Specifically, the company acquired 275,962 Series G shares, representing 59% of the issue, for $4.4 million, as well as 592,668 Series H shares, also representing 59% of the issue, for $9.5 million.
Navios raised its offer price to $16 a share in early November, from an initial $12. The securities carry annual rates of 8.75% and 8.6%, respectively, but shareholders have received no payments since 2016. The offer gave holders the opportunity to realise their positions immediately.
SHIPPING STOCKS: Investors reacted immediately to the announcement of third-quarter results by Safe Bulkers and management’s decision to raise the quarterly dividend by 80%.
Yesterday, shares in the company owned by Polys Hatzioannou were the market’s top performer, closing at €7.46, up 12.35%. Trading volume approached €300,000.
The resulting optimism was also reflected in the other two shipping companies on the market. Star Bulk rose 3.76% to €25.40, with turnover of €2.18 million.
The company owned by Petros Pappas sold shares for its listing on Euronext Athens at €24.50, while trading began at €27.05.
Capital Maritime Finance also closed higher, up 3.03%. Its shares now stand at €7.49, one cent below the price at which they made their stock market debut.