COSCO insists deal will bring more jobs, economic prosperity to European nation

Greece's new government has halted the privatization of the country's biggest port Piraeus, a state selloff in which China Ocean Shipping (Group) Co had already expressed a strong interest.

COSCO, the world's second-largest shipping company, and four other suitors were seen as potential buyers of a 67 percent stake in Piraeus Port Authority OLP last year under the scheme agreed by the previous government.