Greece's 51% state-controlled electricity company Public Power Corporation SA (PPC.AT) has rescheduled a board meeting, that will decide on controversial joint venture deals, to Feb. 26.
"The board meeting will be held Tuesday morning at 10 am," a company official told Dow Jones Newswires. "Among other issues, cooperation between PPC and RWE and PPC and Halyvourgiki will be discussed," the official added.
Originally scheduled for Feb. 2, but postponed after union workers disrupted the proceedings, the board is expected to decide on two memorandums of understanding for a future joint venture with Germany's RWE AG (RWE.XE) and a venture with local steelmaker Halyvourgiki SA to develop new power plants.
The proposed cooperation agreements have engendered strong opposition from PPC's employees' union, Genop, which fears that such deals will lead to the further privatization of the state-controlled utility.
In a statement Friday, Genop said it will go on a 24-hour strike and organize a protest Tuesday in front of the PPC offices. Previous board meetings were postponed twice after union workers stormed the executive offices of the company to prevent a discussion of the potential cooperation deals.