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Wednesday 26 July 2017

Portugal pips us to the post

Portugal has put its national airline up for sale and has sold stakes in two of its energy companies.

Portugal said yesterday it has already raised more than €3bn of its €5bn target set by the IMF and European Commission.

It now plans to sell national airline TAP, water company Aguas de Portugal, and the country's postal service to cover the remaining 40pc.

Finance Minister Vitor Gaspar yesterday signed off the sale of a 40pc stake in electricity utility REN to China State Grid and Oman Oil, to raise €592m.

Portugal sold a 21pc stake in electricity utility EDP to Chinese utility China Three Gorges for €2.7bn in December.

Irish Independent

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