There is rumor that the Italian power grid company, Terna, along with the infrastructure fund F2i (Fondi Italiani per le Infrastrutture) will be making a joint bid to pick up the 24 percent stake the Greek grid operator ADMIE has for sale, according to sources as reported by Reuters.
The power utility company, PPC, is 51 percent owned by the Greek state and they are looking to complete this latest tender in a timely manner as to avoid the potential outright sale of 100 percent of ADMIE; a condition set in law by Greece’s creditors last August as a part of a bailout agreement.
This latest tender is looking at an October deadline to avoid 100 percent privatization, and at current time there are three main bidders still in play: Terna-F2i, France’s RTE and State Grid of China.
Before the Greek government abruptly stopped the original tender for the sale of a 66 percent stake of PPC in December of 2015, Terna was dubbed as a favorite to win.
In all, ADMIE is responsible for some 11,000 kilometers of high-voltage power lines that generate electricity throughout Greece.
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