ADMIE

Energy and banking stocks led the Greek bourse to another day of gains on Monday, with December shaping up to be one of the year's most profitable months at Athinon Avenue. This was the fourth consecutive session of growth for the benchmark, although turnover was significantly lower than on Friday.

The launch of online auctions gave the banks index, and the local stock market in general, a fresh boost on Wednesday on considerably improved turnover that mirrored aspirations for a swift conclusion to the third bailout review and the strengthening of banks' financial reports.

A very volatile session at the Greek bourse on Wednesday ended with mixed results, with banks sliding 2.71 percent while the majority of stocks posted gains as mid- and small-caps remained on the rising course set on Tuesday.

Greece's power grid operator ADMIE has signed a nonbinding agreement with China Development Bank as it looks for fresh capital to finance infrastructure projects.

State-controlled ADMIE and China Development Bank have signed a memorandum of understanding, aiming to help the Greek operator to gain access to fresh credit, ADMIE said on Friday.

The 622 million euros that Public Power Corporation (PPC) has collected from the sale of the Independent Power Transmission Operator (ADMIE) will not remain in its coffers for long, since its total obligations to suppliers, contractors, market entities and others exceed 1.8 billion euros.

The Greek state will no longer have full control of power grid operator ADMIE, despite what the government has professed, according to the unpublished agreement between Greece and the State Grid Corporation of China.

Greece will conclude the spin-off of power grid operator ADMIE by mid-June, meeting a key term of its third international bailout, ADMIE's chief executive said on Thursday.

Greece is close to concluding a spin-off of its power grid operator ADMIE from state-controlled power utility PPC, the Energy Ministry said on Friday.

The move, a key term of the country's international bailout, will boost PPC's cash reserves by about 700 million euros in May, the ministry said in a statement.

The European Union's competition authority is investigating Greece's power utility PPC over allegations the utility has violated antitrust rules, PPC said on Wednesday.

Two sources told Reuters on Wednesday that the EU competition watchdog on Tuesday raided PPC and the headquarters of the country's power grid operator ADMIE. PPC, which is 51 percent owned by the state, owns ADMIE.

The state's deal with the Greek banks for the loans issued to Public Power Corporation (PPC) and the approval of grid operator ADMIE's privatization plan is coming into the focus of the European Central Bank's Single Supervisory Mechanism (SSM) in Frankfurt and the Directorate General for Competition (DGComp) of the European Commission in Brussels.