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State Oil Company of Azerbaijan (SOCAR) has commented on reports that European Commission will not to approve agreement regarding acquisition of shares of Greek DESFA Company (Greece’s National Natural Gas System Operator).
SOCAR told APA-Economics that the European Commission has opened “Phase II” in the in-depth investigation in the context of the recent notification regarding acquisition of 66% shares of Greek gas transmission system operator DESFA by SOCAR sent to EU antitrust agencies for formalization of process of purchase and sale. The Phase II investigation is normally concluded within 90 working days. A final decision is expected within the first half of 2015.
SOCAR appreciates the time, effort and resources that the Commission Services have dedicated and will continue to cooperate constructively with the Commission to complete the process within the earliest possible period.
Apa.az
