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Two sources familiar with the situation said that China's Yangtze Three Gorges Group stopped negotiating with EU regulators on the acquisition more than a month ago. This raises questions about whether the deal can move forward. Three Gorges Group last year offered to buy Portugal's EDP-Energia de Portugal for 9 billion euros ($10.3 billion).
The Three Gorges Group already owns 23% of EDP (EDP. LS) and proposed to acquire a controlling interest in EDP in May last year, but the transaction is progressing slowly.
Sources said that the Three Gorges Group has not yet completed the submission of relevant documents to European and American regulators, but Portuguese regulators said that there was no sign that the Three Gorges Group was ready to abandon the deal.
Three sources familiar with the situation pointed out that the interest of the Three Gorges Group in increasing its shareholding in EDP has declined due to the restructuring of its internal leadership, the prospects for EU regulation of foreign investment, and the rise in electricity tariffs in Europe.
In a statement, a spokesman for the Three Gorges Group said that the Yangtze River Three Gorges Group of China is continuing to promote all regulatory filing matters, continue to discuss with all-round consultants with regulators in different jurisdictions, and achieve all the prerequisites for making a voluntary acquisition offer for EDP.

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