China Three Gorges is buying Portugal's 21% stake in utility EDP (EDPFY.PK) for €2.7B...

|About: EDP Energias de Portugal... (EDPFY)|By:, SA News Editor

China 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.