(Bloomberg) — Portuguese Prime Minister Antonio Costa said any takeover approach for EDP-Energias de Portugal SA would be an issue for the utility’s shareholders, but not for the government.
“This is a matter for EDP shareholders, not for the government,” Costa said in an interview in London. “The state is no longer a shareholder in EDP. It’s an open and regulated market. The future of EDP is first of all chosen by its shareholders.”
Lisbon-based EDP said on Monday that no contacts were made and no talks were held about any “consolidation transaction,” after BFM Business reported that Engie SA had been studying the purchase of the Portuguese utility. On March 1, EDP Chief Executive Officer Antonio Mexia said there were no talks with Gas Natural SDG SA of Spain.
China Three Gorges Corp. is EDP’s biggest shareholder with a 23 percent stake. CNIC Co. Ltd. of China owns 5 percent.