Iberdrola Challenges Decisions of EDP Meeting, Negocios Reports

Iberdrola SA has asked a court in Lisbon to cancel the decisions taken at a shareholder meeting of Portuguese utility EDP-Energias de Portugal SA on Feb. 20, Jornal de Negocios reported, without saying how it obtained the information.

Voting right limits in EDP were increased to 25 percent at that shareholder meeting, which also appointed board members including representatives of China Three Gorges Corp., the Portuguese newspaper said. Before the meeting, Iberdrola said that the Portuguese state should not vote on those points, according to Jornal de Negocios.

Spanish utility Iberdrola holds 6.79 percent of EDP and does not have a seat on the Portuguese company’s board due to competition issues, Jornal de Negocios said.

Click here for web link

Before it's here, it's on the Bloomberg Terminal. LEARN MORE