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EU probing Azeri acquisition of Greek gas company

Business
15:30 | 06.11.2014
EU probing Azeri acquisition of Greek gas company

EU probing Azeri acquisition of Greek gas company

The European Union has launched an investigatio into plans by an Azerbaijan's state energy company SOCAR to acquire Greece's gas transmission network operator, amid concerns that the merger could hinder competition, the bloc's executive said Wednesday.

The acquisition is connected to the planned 3,500-km Trans-Adriatic Pipeline (TAP), which aims to reduce European energy dependence on Russia.

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