October 11, 2016 / 6:46 PM / 10 months ago

Greek power grid stake bid deadline extended to Oct. 19

ATHENS, Oct 11 (Reuters) - Greek power utility PPC has extended a deadline for binding bids for a 24 percent stake in grid operator ADMIE to Oct. 19 from Oct. 12, it said on Tuesday.

France's RTE International, State Grid International Development from China and Italy's Terna have been shortlisted by PPC, which owns the network.

PPC said it pushed back the deadline to give prospective buyers more time.

Under Greece's bailout agreement struck in 2015, PPC, which is 51 percent state-owned, must either sell a minority stake in ADMIE or fully privatise the grid by next year.

Under a timetable approved by parliament, a preferred bidder for ADMIE has to be chosen by Oct. 31 and the deal is expected to be concluded in the first three months of 2017. (Reporting by Karolina Tagaris; Editing by Ruth Pitchford)

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