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China’s State Grid Said to Bid for 25% of Portugal’s REN

State Grid International of China offered to buy 25 percent of Portuguese power-grid operator REN-Redes Energeticas Nacionais SA, said two people with knowledge of the potential deal. Oman Oil Co. separately made a bid for 15 percent of REN, one of the people said.

Portugal is planning to sell as much as 40 percent of REN, which runs the country’s electricity and gas grids, as a condition for receiving an aid package from the European Union and the International Monetary Fund. Bidders were required to put in proposals to buy between 5 percent and 25 percent. The state owns 51 percent of REN.