Greece will evaluate on January 20, 2016, an improved bid that China COSCO Holdings Company Limited (SEHK:1919) is due to submit for a majority stake in Piraeus Port Authority SA (ATSE:PPA), a senior official at Hellenic Republic Asset Development Fund S.A. (HRADF) said. HRADF has asked Cosco to improve its offer. "HRADF's board is scheduled to convene Wednesday evening to assess an improved offer that Cosco will have submitted by then," the official told Reuters.

"Negotiations with Cosco will continue until the last minute so that we achieve the best possible price," the official said.