EDPFY Energias De Portugal SA (PK)

--Portugal's Minister of Environment and Energy Transition said a suggested plan by Elliott Management Corp. that would see EDP-Energias de Portugal SA sell its Brazilian operations would see the energy company leaving a fast-growing market, Reuters reported Friday.

--Joao Matos Fernandes said the idea of a sale by EDP of its Brazilian operations "does not seem a very fortunate one," the report said.

--While EDP is free to make its own decisions, "selling the Brazil operation does not seem to be important for what EDP represents for the national economy," he added, according to the report.

--Elliott's suggestion came as it advised the Portuguese energy company against accepting a buyout offer from China's Three Gorges Dam Corp., instead saying the EDP should invest more in renewable assets, sell stakes in some operations, including in Brazil, and reduce debt.

--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

February 15, 2019 14:21 ET (19:21 GMT)

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