Update: Spanish Lottery Sale Gets Green Light

30 percent of Loterias y Apuestas del Estado up for sale

It has been announced this week that an approval came from the Spanish government for the sale of up to 30 percent of state-owned lottery operator Loterias y Apuestas del Estado (LAE).

The share sale, which is supposed to act as a much needed booster to the state coffers, began last Monday and is supposed to to be completed in October.

The biggest initial public offering (IPO) in Span may end up raising Euros 6 billion to 9 billion ($8.1-$12,1 billion), it has been estimated by experts.

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