The Brazilian competition authority has given unconditional permission for Chinese state-owned electricity company China Three Gorges Corp. to take control of Portuguese utility Energias de Portugal SA (EDP), Lusa reports.
The Portuguese news agency quotes a written statement issued by the competition authority as saying the takeover acquisition will have a “limited impact” on Brazil.
The statement stresses that EDP and China Three Gorges together count for little in the Brazilian markets for generating and distributing electricity, Lusa says.
In a separate report, Portuguese news website Observador says the Brazilian electricity regulator still has to give permission for the takeover.
China Three Gorges already owns 23 percent of EDP, and in June made a bid worth €9.07 billion (US$10.83 billion) to take control of the Portuguese company.
