PPC denies reports that it close to securing majority share package of Enel Romania

Public Power Corp (PPC), the largest electricity company in Greece, has recently denied reports that it is close to buying 70% of electricity producer and distributor Enel Romania.

The Greek company also denied that it had signed a memorandum of understanding with Enel Romania’s parent company, the Italian group Enel, according to Reuters.

Questioned by the Hellenic Capital Market Commission on the reports, PPC simply said that it was "actively exploring" growth opportunities in Greece and southeast European markets and that it was “screening” potential acquisitions in Romania and Bulgaria. There is no agreement or memorandum at the moment, according to PPC.

Enel Romania controls a third of the national energy distribution system. The company has come under pressure as a result of the government’s capping of electricity and has argued that the present rules governing the Romanian energy market are not conducive to further investments.

(Photo source: Enel)