EDP may sell hydroelectric dams valued at EUR 1bn - report (translated)
18 FEB 2019
EDP [ELI:EDP], Portugal’s largest power utility, could sell a number of hydroelectric dams valued at about EUR 1bn, reported Expresso on 18 February.
A new strategic plan is being drawn up by the group that includes fresh investments and asset sales, the Portuguese-language newspaper reported, quoting a source in EDP’s supervisory board.
EDP will announce its revised strategic plans on 12 March this year, the report said. Expresso did not specify the EDP hydroelectric dams that could be sold from the company's 8,785 MW of dams, mainly located in Portugal and accounting for 32% of its total global generation capacity. Some of the more modern EDP dams are pumped storage facilities, while the older ones are the basic hydro models.
The dams are not part of the EDP assets that minority investor Elliot Management proposed the Portuguese utility to sell in order to lower its debt burden.
EDP Brasil, worth EUR 2.3bn, and Iberian transmission networks, valued at EUR 3.6bn, were the two assets proposed last week by Elliot Management, as reported.
Link to original source.
Liberty Global seeks to acquire in Poland; UPC Polska not for sale (translated)
18 FEB 2019
Liberty Global [NASDAQ:LBTYA], the owner of Polish cable operator UPC Polska, is looking for acquisitions in Poland, Rzeczpospolitareported, citing UPC Polska CEO Robert Redeleanu.
Redeleanu also confirmed that UPC Polska is not for sale.
Liberty Global's priority is to build the scale of business, and the company would consider various scenarios to achieve this goal. It could develop at its current pace or look for acquisition opportunities, Redeleanu told the Polish-language daily.
The CEO was also quoted as saying that Liberty Global has a will to acquire in Poland if such opportunities appear, adding that any acquisitions would depend on the regulatory environment.
UPC Polska reaches almost 3.5m households, the article said, citing Redeleanu. The company posted PLN 1.556bn (USD 404.3m) net revenues and a PLN 301.9m net loss in 2017, according to a previous report in Wirtualnemedia.pl, which cited company records.
The original report appeared in print; page A25
Stocks rose in Asia to the highest level since October amid optimistic signs on the global economy and trade discussions.
Shares in Hong and China led the advance as strong January credit data eased concerns about a slowdown in the biggest Asian economy. Japanese equities also rose, while gains in Australia and South Korea were more modest. European futures edged higher. News that the U.S. and China had reached consensus in principle on the main topics in their negotiations helped boost risk appetite ahead of talks that resume in Washington this week. The S&P 500 Index ended last week at a 10-week high, with exchanges closed Monday for Presidents’ Day. The dollar steadied after two days of losses and oil pushed higher toward $56 a barrel.
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Macro :
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>>> Call