U.S. hedge fund builds stake in Greek gambling monopoly

U.S. hedge fund Baupost Group has a 5.2 percent stake in Greek gambling firm OPAP, a regulatory filing showed on Tuesday, signaling foreign interest in the country's gambling monopoly before its privatization, Reuters reports..

Boston-based Baupost Group, run by money manager Seth Klarman, unveiled the position after it exceeded a 5 percent reporting threshold under Greek law, OPAP said in the filing.

Baupost is the third investment fund holding a big stake in OPAP, which has a market value of 2.05 billion euros ($2.76 billion) on the Athens Stock Exchange.  Investment funds Silchester Inv. and Fidelity Investments already own about 5 percent each in the company, according to Athens stock market data.

Read all about it at http://www.reuters.com/article/2013/01/29/us-greece-opap-hedgefund-idUSBRE90S0N620130129