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Greece's power utility PPC says China's State Grid highest bidder for grid stake

ATHENS, Oct 26 (Reuters) - Greece’s power utility Public Power Corp. (PPC) said on Wednesday that China’s State Grid was the highest bidder for a minority stake in the country’s power grid operator ADMIE.

PPC said State Grid offered 320 million euros ($349 million) for a 24 percent stake in the operator.

State Grid and Italian power grid Terna submitted binding bids for the stake last week.

PPC said its board would decide on the preferred bidder on Oct. 31, while the final decision would be taken by a shareholder meeting due on Nov. 24.

$1 = 0.9173 euros Reporting by Angeliki Koutantou; Editing by Mark Potter

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