Reuters:Romanian Hidroelectrica cancels 4 power contracts

Romanian state-owned utility Hidroelectrica cancelled four contracts under which it sells power below market prices, Economy Minister Ion Ariton said on Thursday, heralding an end for other similar deals. The contracts - including with a local unit of steelmaker ArcelorMittal - are under investigation by the European Commission and contested in court by minority shareholder Fondul Proprietatea. The move is part of a wider plan to reform state-owned firms under an aid deal led ...

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