China Three Gorges no longer interested in EDP takeover bid

Sources involved in the process say that several factors have contributed to the decision.

China's Three Gorges suspended talks with European authorities on the EDP takeover bid about a month ago.

Three sources involved in the process told Reuters that the Chinese company is no longer interested in the Portuguese utility. This about-face is due to changes in the Chinese company's leadership, the rise in electricity tariffs, and European legal requirements pertaining to foreign investment.

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