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Greece assessing two bids for stake in power grid operator ADMIE

Xinhua, October 24, 2016 Adjust font size:

Greece's public power corporation (PPC) is assessing two bids submitted for the sale of a minority stake in power grid operator ADMIE, the company announced on Sunday.

China's State Grid International Development and Italy's TERNA in collaboration with the F2I investment fund have made the bids for the ADMIE stake.

"The process of choosing a strategic investor for the 24 percent stake in ADMIE is proceeding smoothly," according to a PPC press release.

The final day for submission of binding bids was Oct. 21, 2016.

Under the tender launched in the framework of Greece's third bailout signed in the summer of 2015, the Greek state can retain control of 51 percent of ADMIE or fully privatize the operator.

Under the timetable ratified by the Greek parliament, the preferred bidder must be chosen by October 31 and the agreement should be finalized by April 2017. Enditem