Public Power Corporation

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DEH

ADMIE stake passes into Chinese hands

China's State Grid Corporation (SGCC), the world's biggest utility, on Friday signed the purchase of a minority stake in Greece's power grid operator ADMIE, China's second big investment in the debt-laden country in a matter of months.

ADMIE was fully owned by Greece's state-owned power utility Public Power Corporation (PPC).

ATHEX: Stocks slide on ESM news

The decision by the European Stability Mechanism (ESM) to freeze short-term measures to ease Greece's debt also froze buying interest in the local market, leading to losses for the majority of stocks on Wednesday, which may well continue into Thursday's session.

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