Investors rush in for surprisingly small EDP sale

Spanish utility Iberdrola sold a surprisingly small stake in Portuguese peer Energias de Portugal on Tuesday evening, with investors leaping to get into the liquidity event after the Spanish firm had been quietly selling down its stake through the market.

  • By Andrew Griffin
  • 12 Feb 2014
Iberdrola has long been expected to sell its stake in EDP, with many expecting a deal of $800m. But after UBS took the deal to the seller in response to reverse enquiries, it emerged that the firm had been disposing of its stake through derivatives and secondary trading ...

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