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>It’s a case of saying that Portugal has been constantly for sale. If in the recent past, large public companies were sold off to Chinese managers who now do wh
by haunter 4y ago
>It’s a case of saying that Portugal has been constantly for sale. If in the recent past, large public companies were sold off to Chinese managers who now do whatever they want — like Energias de Portugal (EDP), the main electricity company, which, after making an exorbitant profit in the first semester of the year, they’re now saying that energy prices are going to go up again — now are private assets which are being bought out
What a fucking disaster. Selling off national assets to foreign investment groups.
>China Three Gorges Corporation, a SOE, won in December 2011 the bidding for the Portuguese government's 21.35% interest in the company. The transaction is expected to be concluded by April 2012. As of February 2014, just under 45% of the ownership of EDP was controlled by five institutional shareholders. Amongst the others were the Qatar Investment Authority and BlackRock.
Qatar, China, BlackRock. Can't find a better bunch.
- andrepd 4y agoBlame neoliberal ghouls which, as the saying goes, "never let a good crisis go to waste". It was the perfect time to get public assets from the Portugese state, Greek state, Spanish state, etc, at a massive discount. A fire-sale of public goods, if you will. Also, by the way, a great time to push policies which made youth unemployment go to 30, 40, or even 50% (!), to get those sweet qualified youths to go work as nurses, doctors, engineers, in Germany, Netherlands, the UK, etc. Blame also the eagerly colaborationist Portuguese government from 2011–2015.
- jonathanstrange 4y agoThat explains why they are building one generic luxury apartment block after the other - and hostels, hostels, hostels. It's insane.