China Three Gorges: Have 'Slight Edge' In Bid For Portugal EDP Stake
19 December 2011 - 9:23PM
Dow Jones News
China Three Gorges Corp., builder of the world's largest
hydropower project, said Monday that it has a slight edge in
bidding for the Portuguese government's sale of 21% in national
utility EDP-Energias de Portugal SA (EDP.LB).
Three Gorges said nine companies originally bid for the assets,
but after two rounds, only three are left in the auction--the
others being Germany's E.ON and Brazil's Centrais Eletricas
Brasileiras S.A., known as Electrobras.
Three Gorges didn't mention how much its bid was, but in a
statement cited media reports that it had bid EUR2.69 billion,
which was 5% more than E.ON and 6% more than Electrobras.
-By Wayne Ma, Dow Jones Newswires; +86 10 8400 7714;
wayne.ma@dowjones.com
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