European Commission blocks acquisition of Gás de Portugal

The commission said the deal would strengthen the dominant position of EDP – the incumbent electricity company – in the electricity markets in Portugal and GDP’s dominant position in the country’s gas markets.

The concentration would significantly reduce or pre-empt the effects of liberalisation of the electricity and gas markets, and increase prices for domestic and industrial customers, said the commission. The deal would also strengthen GDP’s dominant position in the relevant gas markets