BUSINESS

Greece fails to reach deal on gas grid sale to Azerbaijan's Socar

ANGELIKI KOUTANTOU

TAGS: Energy, Economy, Business

Greece said on Wednesday that talks to sell a 66 percent stake in gas grid operator DESFA to Azerbaijan's Socar did not conclude successfully.

The country's energy ministry said Socar's proposal to reduce the price of the 400 million euro deal was legally unfeasible and would cancel the tender.

An energy ministry official told Reuters that the DESMAN privatization remains a commitment under the country's international bailout and that the government would decide on its next steps next week.

[Reuters]

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