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Finland's Fortum blocks Russia's TGC-1 deal to sell grid firm

ST. PETERSBURG, June 18. /ITAR-TASS/. Finnish energy company Fortum has blocked a deal of Russian electricity producer Territorial Generating Company-1 (TGC-1) to sell 75% in St. Petersburg-based grid firm Saint Petersburg heating network to the city government, Gazprom Energoholding CEO Denis Fyodorov said late Tuesday.

Fortum holds 25.6% in TGC-1, which is controlled by Gazprom Energoholding.