The Hellenic Republic Asset Development Fund has asked an international consortium being led by OPAP SA to submit higher bid for Greece's state lottery. The group is said to be the sole bidder to supervise the state lotteries.

It is not that they have not presented their bid, as the bid was submitted on Monday. But, the fund officials have decided to ask the consortium to submit a higher bid. It is said that the new bid will then be assessed by the Board of Directors of Hellenic Republic Asset Development Fund in a meeting, which will take place on December 12.

The tender is quite crucial for the country, as it is the first step taken by the country in last two years to propel its privatization program, which has already got delayed. While revealing about the details of the deal, it has been explained by them that the tender will include rights to operate, promote and manage the lotteries of states and that too for 12 years.

There were a number of concerns for which Greece decided to ask OPAP lottery agency to submit a higher bid. The country has been passing through a tough time and do not want to get into trouble.