The privatization of the state-owned Turkish national lottery, Milli Piyango, has been cancelled after the final two bidders, OPAP+ and Turkcell+, failed to match the US$ 1.62 billion valuation set for the lottery by the tender commission. When Greece’ Intralot backed out off the Milli Piyango privatization process, it should have been a wake up call for Turkish Privatization Administration, or ÖİB.