Austria's biggest utility Verbund (VERB.VI) said on Thursday it will abandon its operations in the Greek retail market for electricity because it does not count the country among its key foreign markets.
"(Verbund) seeks to gradually decrease its activities in secondary markets and has decided... to withdraw from the joint venture Verbund APT Energa Hellas," the company said in a statement distributed in Athens.
APT-Energa Hellas, a joint venture in which Verbund had a 55 percent majority stake is the biggest upstart challenger of Greece's dominant, state-controlled utility PPC.
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