China set to fully control Portugal's power grid amid Europe's inertia
>China is set to make further inroads into European infrastructure, as a state-owned company attempts to gain full control of Portugal’s power grid.
Portugal/EU YES - Chinese takeover of power grid of Portugal
William Ortiz
Other urls found in this thread:
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en.wikipedia.org
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eco.pt
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Cameron Diaz
First we need to send away niggers, sandniggers and gyppos, chinks extermination will come next
also, nice source
Hunter Garcia
I'm starting to think it will never happen...
Camden Ward
Link: euractiv.com
China is set to make further inroads into European infrastructure, as a state-owned company attempts to gain full control of Portugal’s power grid.
The case could be a game changer when it comes to foreign investments in the EU, considering that currently the Commission lacks the proper legal framework to “protect”EU common interests. and it could be a wake-up call to speed up the procedure to establish an investments screening mechanism.
2011
>In 2011, PORTUGAL’S GOVERNMENT WAS REQUIRED TO SELL ITS STAKE IN THE COUNTRY’S POWER GRIDS as part of the terms of its €78 billion bailout programme, organised by the European Commission and International Monetary Fund.
>China Three Gorges (CTG) quickly snapped up the 21.35% share of Energias de Portugal (EDP) for €2.7 billion but reportedly committed in 2012 to remaining a minority shareholder.
>EURACTIV was informed that the CTG purchase was not notified to the European Commission and, as such, no assessment was carried out.
2018
>But the company is now pursuing a majority stake in EDP that, combined with shares owned by other state-owned enterprises (SOEs), would give China near full control of an EU country’s power system.
Matthew Brooks
Bump
Bump
Isaiah Sullivan
Back in 2011 the Finacial Times joked that Portugal should leave the EU and join Brazil because the Portugal is a economical basketcase
Adrian Moore
Chinese SOEs already control significant stakes in the ITALIAN power grids, BRITISH gas network and GREECE’s grid operator. The GREEK Port of Piraeus is also partly controlled by another state-run outfit.
A source close to the issue told EURACTIV that China’s “discretion” was getting dangerous. “They are patient. In most cases, they buy initially a small share with an aim to increase it in the long run,” the source said.
Alexander Fisher
>In 2011, Portugal’s government was required to sell its stake in the country’s power grids as part of the terms of its €78 billion bailout programme, organised by the European Commission and International Monetary Fund.
>China Three Gorges (CTG) quickly snapped up the 21.35% share of Energias de Portugal (EDP) for €2.7 billion but reportedly committed in 2012 to remaining a minority shareholder.
>But the company is now pursuing a majority stake in EDP that, combined with shares owned by other state-owned enterprises (SOEs), would give China near full control of an EU country’s power system.
>EDP is also a big player in renewable energy, as it is the majority owner of EDP Renewables, the world’s fourth largest wind energy producer, which aligns with China’s own impressive forays into clean energy.
>EDP is currently considering a third offer that sources say is in excess of €10 billion. The Portuguese government does not oppose the sale.
>If accepted, China would control the generation and distribution of Portugal’s power, as well as holding 25% of the management company that runs both the electricity and gas grids, Redes Energéticas Nacionais (REN), which is also held through a separate SOE.
>Many European economies are concerned that if large-scale investments by third parties like China are not controlled, assets could be “looted”, according to French Finance Minister Bruno Le Maire.
>Chinese SOEs already control significant stakes in the Italian power grids, British gas network and Greece’s grid operator. The Port of Piraeus is also partly controlled by another state-run outfit.
Henry Gray
>What the EU Parliament says
>On 20 March 2017, ten MEPs from the European Peoples’ Party (EPP) put forward a proposal for a Union act on the Screening of Foreign Investment in Strategic Sectors.
>Swedish MEP Christofer Fjellner (EPP) told EURACTIV that electricity and gas infrastructure had to be considered critical EU infrastructure, and it ought to be protected by the investment screening mechanism.
>“I think the issue should be addressed at the upcoming EU-China Summit. However, I believe that a much bigger problem is Gazprom, Nord Stream and the dependence of Russian gas,” he added.
>For Portuguese MEP Marisa Matias from GUE-NGL, there is no argument that European stockholders are better than Chinese ones.
>She added that the government does not make its position clear regarding the issue but explained that it does not want to make it public again.
>“The Portuguese state owns no stock in EDP. The company was completely privatised and has no public capital and very few Portuguese (or European) institutional stockholders. 35% of the stock was dispersed which makes it very easy for the Chinese to achieve a dominant position,” she said.
>According to Matias, the company has always been a very profitable, even when it was public but prices have soared since it was privatised.
>“Our proposal (Bloco de Esquerda) is to nationalise the company. We have also been making proposals to end various rentist conditions that EDP benefits from, at the expense of taxpayers and consumers,” she concluded.
Angel Richardson
what the fuck are you guys doing
Benjamin Reed
>extermination
fuck off, sperg
Luke Cooper
Not only are they meddling in the old colonies, but now at home as well.
This could have been all avoided if more Commies were thrown out of helicopters.
Eli Brown
At least we aren't racist. Right goys?
Lucas James
Investment ratio to GDP of countries in European Union
>if more Commies were thrown out of helicopters.
These only happened because EU is a liberal economic sponsor. They even wanted us to sell golden shares of a communications company.
It's thanks to EU and Germany licking governments.
Josiah Torres
politico.eu
Still, many in the country find German accusations of selling out to the Chinese galling, given that it was politicians in Berlin that urged Portugal to sell off assets and state-owned companies to the highest bidder just five years ago.
“Yes, it is ironic,” said one senior Portuguese official, when asked about the German accusations. By refusing fiscal transfers within the EU, Berlin had driven poorer EU countries into the arms of Chinese investors.
Juan Morgan
...
Blake Wood
| high-tech firms like GERMAN industrial robotics maker Kuka, which was bought last year by a Chinese manufacturer of washing machines and rice cookers.
Sweden’s opposition in the Council “could be linked to the fact that SWEDEN’s two big carmakers [NEVS and Volvo] are owned by Chinese investors,” Abdu said.
the EU has become a top destination for Chinese investors, who have bought banks, ports, energy companies and high-tech manufacturers across the bloc, from the GREEK peninsula to the outskirts of Dublin, IRELAND.
Last March, HUNGARY — another country with heavy Chinese investment — derailed the EU’s consensus to sign a joint letter denouncing the reported torture of detained lawyers in China.
Last March, HUNGARY — another country with heavy Chinese investment — derailed the EU’s consensus to sign a joint letter denouncing the reported torture of detained lawyers in China.
Evan Richardson
| bloomberg.com
What China Owns in Europe
Sample of individual physical assets that Chinese companies have invested in
Hunter Murphy
OP is a fag. ªBased chinos. Portugal has no hope for 50 years now. We must >>>GO_EAST
Dylan Bell
It isint the chinese that run Europe is the Jews that run Europe. They want to invent a boogieman to make you forget of what is important. Beware off the (((gatekeepers)))
China isn't a problem, it's the niggers and the jews that are a problem
Nathaniel Butler
The century of humiliation is fresh in every insectoid Chinese. They will repay Europe tenfold for the sin of western Imperial hubris and and the gift of uplifting civilisation they resentfully know we achieved first.
Still who gives a fuck its just money.
Jayden Ross
t. Chinese investments in Europe range from Greece’s main port to electricity grid operators, A PLANNED HIGH-SPEED RAIL LINK BETWEEN BELGRADE AND BUDAPEST, a bridge in Croatia and even Italian soccer clubs.
Michael Lee
Chastised by E.U., a Resentful Greece Embraces China’s Cash and Interests
nytimes.com
The Jews in EU are the enablers of Chinese control and niggers importations
Funny fact: en.wikipedia.org
Chase James
Quando é que o pêndulo nos traz para casa?
Anthony Jenkins
>>“Our proposal (Bloco de Esquerda) is to nationalise the company. We have also been making proposals to end various rentist conditions that EDP benefits from, at the expense of taxpayers and consumers,” she concluded.
>nationalise it again, invest in green energies even more, don´t alow for the formation of competition
>wonder why we have the biggest energy prices in europe
BE, PCP, PS, differant shit but the smell is the same
Austin Ward
Primeiro temos que morrer para renascer.
Mason Jenkins
The fuck? did chinks buy our groundwater or what is this
Parker Robinson
I hope they use this song again when they overthrow the 3rd republic
youtube.com
Grayson Morris
Benjamin Foster
Soon I hope.
Angel Lewis
I'm try to research more
investinfinland.fi
Lincoln Bennett
So your telling me china could pull an ultimate blitzkrieg on portugal right now and the eu isnt doing anything about it
I would of already declared war
Sebastian Lee
I would share some cod and potatoes with the insectoids. Its not of them I am afraid.
Jordan Mitchell
Vou fazer dump
Connor Hill
Jace Torres
William Green
Josiah Cruz
Hey good thing you will survive under slavery when they take over but your mom
Dad
Uncle
Freinds
And everyone in your community will be killed off.
This is world war 3 shit
Jackson Collins
Colton Myers
Caleb Taylor
why is Europe so fucking stupid
Robert Turner
Fuck you. Stop sliding the thread
Bentley Reyes
Grayson Sullivan
Só se fores um querido lindo
Sebastian Gonzalez
Dump in the discord server You are sliding the discussion.
Blake Cruz
m7cuKT
John Young
Going to give it a try
Why does EDP have a monopoly tough? What is stopping others from making them competition?
Nicholas Rodriguez
Please let me know if there is more than just electricity what other resources are handed to china and muslims and russia
Cameron Young
The commies saying: "Privatization is bad". The socialists are the same. They want monopoly.
Dominic Baker
The EU and govt.
The ironic thing since the one of the company that EDP owns and operates in USA and USA would stop the business and EU does nothing. USA is more protecionist than EU in European companies
>One thing remains to be seen: the Chinese were not counting on such a demanding operation from the point of view of the financial advisor and so they reinforced the team with one more American bank when they are perfectly clear that the main obstacle to the implementation of the operation will come right from the USA. They know, above all, that there will be no remedy if not to dispose of all the US assets that are concentrated in EDP Renováveis
>To control a majority position in EDP , if they are to succeed in the OPA on the parent house there are a number of regulatory authorizations in several countries that China Three Gorges will have to obtain. One of these authorizations will have to come from the US Foreign Investment Committee , which has tightened the rules on Chinese companies especially when it comes to investments in strategic sectors such as energy
>USA scratched from the map. It is in this base scenario that China Three Gorges is currently working. And from there they perceive the latest movements of the Chinese who have been news out there. The Asian group that directly and indirectly controls about 29% of EDP does not rule out a direct sale of the US assets of EDP, which are valued at around 6.5 billion euros. But this is a last resort option.
in Portuguese: eco.pt
Jayden Ramirez
But they are aware they can´t get EDP back?
It´s going to be funny next elections, i see BE kicking PS out of that gyzmo and the trio Catarina Martins and sisters Mortágua anally violating the communist party