Bids for Greek utility DEPA

Deputy chairman Alexander Medvedev Moscow - AFP Russian gas giant Gazprom has submitted a preliminary bid to purchase the Greek gas corporation DEPA, deputy chairman Alexander Medvedev said Saturday. "We have submitted a preliminary bid and are hoping that we will pass the qualification process. The price we will offer will be completely real, we will not overpay," he was quoted by RIA Novosti agency as saying. Greece has invited bids for both DEPA and its subsidiary, national distributor DESFA, in a privatisation drive to reduce the country's debt. Gazprom will not be expressing interest in DESFA, Medvedev said. The Greek state owns 65 percent of DEPA, with the remaining 35 percent owned by leading state-controlled refiners HELPE. Greece is looking to sell 100 percent of DEPA but retain a 34 percent stake in DESFA.