Lithuania rejects Estonian utility bid

  • 2003-12-04
  • Staff and wire reports
VILNIUS-TALLINN - In an alarming twist largely overlooked due to the impending impeachment proceedings, Lithuanian officials have suspended the privatization of a major power grid that had in effect been won by Eesti Energia, Estonia's national power company, shocking both company officials and Estonian leaders.Eesti Energia reportedly offered 500 million litas (142 million euros) - or roughly 20 million euros over the asking price - for a 71.35 percent stake in Rytu Skirstomieji Tinklai, the power grid that supplies electricity for the eastern half of Lithuania.But the bid, the only one fo...
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