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Business deals

Portuguese utility EDP rebuffs buyout bid from China Three Gorges

Offer price 'does not adequately reflect the value of EDP,' company says

20180512_Three Gorges Dam
The Three Gorges Dam on the Yangtze River in Yichang   © Reuters

PARIS -- Portuguese utility EDP said Tuesday that it has rejected a takeover bid of about 9.1 billion euros ($10.7 billion) from China Three Gorges, the power and gas company's biggest shareholder.

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