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China Three Gorges is buying Portugal's 21% stake in utility EDP (EDPFY.PK) for €2.7B...
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Friday, December 23, 2011, 1:59 AM ETChina Three Gorges is buying Portugal's 21% stake in utility EDP (EDPFY.PK) for €2.7B ($3.5B), beating out E.On (EONGY.PK) and Eletrobras (EBR). The deal also includes Chinese investment in the wider economy, and is a crucial indicator of Portugal's ability to sell state assets in the face of its debt crisis.
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