Shafaqna English– In a move aimed at shielding strategic assets and gaining more say over critical investments, Portugal’s government said Wednesday it had bought a stake in REN, the operator of the country’s power and gas grid.
The state agreed last month to acquire 13.7% of REN, returning as a shareholder 12 years after leaving the company during Portugal’s bailout — a period in which China’s State Grid took a 25% stake and became its largest shareholder.
Environment Minister Maria da Graca Carvalho said Lisbon has kept “good dialogue and cooperation” with the Chinese state-owned firm, but insisted the decision was rooted in sovereignty, public interest, national security, and geostrategy.
She told a parliamentary committee that regardless of whether the shareholder is this state-owned company or another from a different country, Portugal cannot overlook the constant geopolitical shifts seen in recent months.
Source: Reuters