Gas Natural Offers Chairmanship to EDP in Push for Merger -El Confidencial

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Gas Natural Chairman Isidre Faine has tried to convince Portuguese Prime Minister Antonio Costa about the benefits of a merger between Gas Natural and EDP, reports El Confidencial, citing people familiar with the matter.

--Mr. Faine has reportedly offered the chairmanship of the new combined group to a candidate from EDP in an effort to gain the support of the Portuguese government, which is wary of losing one of the country's few remaining large companies, says the newspaper.

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--Gas Natural's interest in the Portuguese energy company was first reported in the summer of 2017. EDP was privatized as part of an EU bailout but kept the same chief executive, a former minister of public works

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(END) Dow Jones Newswires

January 25, 2018 04:07 ET (09:07 GMT)

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