China Communications Construction considers buying 30% of Mota-Engil

China Communications Construction Co is planning to purchase a stake in the Portuguese company.

China Communications Construction Co is planning to purchase a stake in the Portuguese company.

China Communications Construction Co (CCCC) is studying the purchase of 30% of Mota-Engil to boost its international presence, Bloomberg reported today.

Citing sources close to the process, the agency reported that the operation is still at an early stage and it is not yet certain that the Chinese company will make a formal proposal, adding that there may be other parties interested in the purchase.

According to the same source, the Chinese company's goal in buying part of the Portuguese construction company is to strengthen its international presence.

An official CCCC source contacted by Bloomberg declined to comment.

A Mota-Engil official source also declined to comment on the process, telling Lusa that this is "a shareholders' matter."

Established in 1946, the Mota-Engil group operates in 28 countries spread across three continents and has holdings in about 280 companies.

The company's majority stake (65%) is owned by the Mota family through FM - Sociedade de Controlo.

At 3.51 pm, Mota-Engil's shares on the PSI20, Lisbon's main stock index, were worth €1.91 euros - a 4.14% increase since yesterday.

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