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NNA - Voluntary return of 137 Syrian refugees from Shebaa and central Bekaa
NNA - Lebanon's General Security on Monday announced in a statement it has secured the voluntary return of 137 Syrian...
NNA - Land transport unions suspend strike confirmed by Head of Public Drivers' Union, Bassam Tleis
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Lusa - Business News - Portugal: Talk of Azores airline sell-off 'premature' - Secretary
Ponta Delgada, Portugal, Aug. 13 (Lusa) – The Azores regional transport secretary said on Monday that it was “completely premature”...
Lusa - Business News - M0zambique: SADC warns of greater food insecurity because of drought
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Lusa - Business News - Portugal: Paper company Navigator sees shares fall over 18%
Lisbon, Aug. 13 (Lusa) – Portugal’s Securities Exchange Market Commission is closely accompanying the behaviour of leading paper brand Navigator...
Lusa - Business News - Angola: Out-of-date forged goods 'came from supermarkets' - Consumer group
Luanda, Aug. 13 (Lusa) – The chairman of the Angolan consumers’ rights association (AADIC), Diógenes de Oliveira, said on Monday...
CNA - Total sales of industrial commodities up by 7.3% in 2016
CNA - ΝICOSIA
Total sales of industrial commodities were up by 7.3% in 2016 on an annual basis, data released by...
Lusa - Business News - Brussels: Agreement signed for new digital highway - European Commission
Brussels, Aug. 13 (Lusa) – A group of 11 European and Latin American research and education networks have signed an...
EFE - MEDITERRANEAN MIGRATION - Migrants on board Aquarius vessel in good health, have supplies for 2 weeks
Rome, Aug 13 (EFE).- The 141 migrants on board the Aquarius rescue vessels were well and with enough food and...
Lusa - Business News - Portugal: Regulator black-lists Blue Grana Investment Group and Smartadn
Lisbon, Aug. 13 (Lusa) – The Portuguese Stock Exchange Commission (CMVM) said on Monday that Blue Grana Investment Group and...
Lusa - Business News - Angola: Govt. regulates issuance and management of Public Debt
Luanda, Aug. 11 (Lusa) - The Angolan government has regulated the Issuance and Management of Direct and Indirect Public Debt,...
Lusa - Business News - Portugal: 'Uber' law comes into force on 1 November
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Lusa - Business News - Cape Verde: ECOWAS bank not investing enough in the economy - Tourism chairman
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Lusa - Business News - Portugal: Ambassador wants closer ties between Indian and Portuguese people
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Lusa - Business News - Macau: Region imports 29% more products from Portugal in first half - AICEP
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CNA - Hellenic announces share agreement with Emma Alpha of €50 million
CNA - Cyprus/NICOSIA
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Lusa - Business News - Portugal: Four-week overtime strike at ports starts on Monday
Lisbon, Aug. 13 (Lusa) – Dockworkers start on Monday a four-week overtime strike due to end on 10 September,...
Lusa - Business News - Portugal: EDP says takeover offer from CTG is too low




Lisbon, May 15 (Lusa) – Portuguese power company EDP – Energias de Portugal believes that the price offered by China Three Gorges (Europe) to acquire it is too low, the company said in a statement filed with the Portuguese Securities Market Commission (CMVM) on Tuesday.
"The Executive Board of Directors considers that the price offered does not adequately reflect the value of EDP and that the premium implicit in the offer is low considering the practice followed in the European utilities marke in situations where there has been acquisition of control by the offeror," the statement said.
On Friday, China Three Gorges launched a voluntary takeover bid for EDP, offering 3.26 euros per share, representing a 4.82% premium over market value.
In the information filed with CMVM, EDP said it had started internal procedures and will make a statement, "in due time on the other terms of the offer," that will be communicated to the Executive Board of Directors of EDP when China Three Gorges (Europe) sends it "the project of the prospect which will include the relevant details of the Industrial Project."
On Monday, financial news agency Bloomberg reported that EDP was preparing to reject the takeover bid on the grounds that the proposed price is low.
CTG, which already owns 23.27% of EDP, intends to keep the company headquartered in Portugal and is offering €3.26 per share, or a 4.82% premium over the market price, which values the company at around €11.9 billion.
EDP share closed on Monday up 9.32% to €3.40.

DD (DF / ICO)/CA // CA
Lusa


Agency : LUSA

Date : 2018-05-16 08:33:13







 

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