The Portuguese Securities Market Commission has detected no sign that Chinese state-owned power generator China Three Gorges Corp is abandoning its bid to buy Portuguese electricity company EDP – Energias de Portugal, Reuters reports.
The news agency quotes an official of the Portuguese regulator, João Geão, as saying the commission is maintaining close contact with China Three Gorges.
Mr Geão said China Three Gorges needed what he described as “administrative authorisations in a large group of jurisdictions” before it could proceed.
China Three Gorges already owns 23 percent of EDP, the biggest single stake. Last May the Chinese firm made a US$10 billion bid to take control of EDP.
The purchase requires the permission of Brazilian, European Union, Portuguese and U.S. regulators, Reuters says.
