MOSCOW, Jan 29: The export unit of Russian electricity group SEU is considering share acquisitions in China and Europe in order to become a major world player in the sector in the next five years, a source close to the company said on Monday.

He said the SEU would first transfer control of electricity power stations in Russia, Armenia and Tajikistan to its export subsidiary Inter SEU, after which Inter SEU would buy shares in companies in Asia, notably China, as well as in Finland, Turkey and eastern Europe.

The acquisitions would bring the capitalisation of Inter SEU over the next five years to $14 billion (10.8 billion euros), the source said.

Inter SEU's development strategy will be assessed at an SEU board of directors meeting on February 9, according to an SEU spokeswoman.

Inter SEU is 60 per cent owned by SEU, with the federal atomic energy agency Rosatom controlling 40 per cent.

Inter SEU at the moment controls electricity distribution companies in Armenia and Georgia as well as power stations in Armenia, Georgia, Moldova, Tajikistan and Kazakhstan.

—AFP