ECONOMY

Italy’s Snam could take stake in Greece’s DESFA

italy-amp-8217-s-snam-could-take-stake-in-greece-amp-8217-s-desfa

Italian gas grid operator Snam is interested in buying a 17 percent stake in Greek gas grid operator DESFA from Socar, the Azeri state energy firm’s president said on Tuesday, in a deal that may calm European Commission concerns.

“Italian company Snam approached us about buying shares in DESFA,” Socar’s Rovnag Abdullayev told reporters.

“This company is interested in buying a 17 percent stake in DESFA.”

Socar sees such a deal as possible by the end of the year.

[Reuters]