May 11, 2018 / 8:07 PM / in 5 months

Portugal PM says not opposed to likely Chinese bid for EDP

LISBON, May 11 (Reuters) - The Portuguese government has no objections to a potential bid by Chinese investors to take control of the country’s largest utility, EDP-Energias de Portugal, Prime Minister Antonio Costa told reporters on Friday.

Earlier, stock market regulator CMVM suspended trading in EDP shares after sources and media reports said that a Chinese group led by EDP’s largest shareholder, China Three Gorges, was set to make a takeover bid for the firm.

“The government has nothing against it, no reservations,” Costa said, adding though that the government does not have to be consulted. “The Chinese have been good investors, be it in REN, EDP or in other sectors ... The important thing is that shareholders can ponder on the project. Let the market work.” (Reporting By Andrei Khalip and Sergio Goncalves; Editing by Kevin Liffey)

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