REN sale opens the gate to China
- Created on Wednesday, 22 February 2012 18:58
The sale of the state owned electricity distribution company REN is from "the European point of view is something new and unexpected" according to Filipe de Botton, co-chief executive of Logoplaste, the largest private shareholder in REN. He said the purchase of 40% of REN by the Chinese State Grid and the Oman Oil, is from the European point of view "something new and unexpected."
The businessman, who owns 8.4% of REN, was commenting at the end of the ceremony marking the purchase transaction, saying that the coming of the Chinese, with the acquisition of 25% cent of the Portuguese company "is extremely good for Portugal because the country (Portugal) now is on the Chinese map."
Filipe de Botton added that the entry of the new shareholders "will allow the company to develop, to gain momentum in international markets and to continue to invest."
