The Court of Auditors says that in the case of the privatization of EDP and REN, the government has taken legislative measures “to beware the strategic interests of the Portuguese State after the completion of the privatization process”.
In the audit report of the processes of (re) privatization of the electricity sector, unveiled today, the Court points out that, despite the privatization decree of EDP and REN and the sales agreement and strategic partnership contain references to safeguard the national interest, “was not provided any penalty clause for non-compliance.”
That court therefore concludes that, “in both cases” have not taken any legal steps to ensure the strategic interests of the state after completion of the privatization, “as requirements established in article 27 of the framework law on privatizations.”
The audit notes that “the Portuguese State posture” proved “less adequate when compared to that of some European countries that clearly protect its strategic assets “
The institution gives even examples:.” Some of these countries preserve those assets by setting limits on the acquisition of strategic assets by foreign entities that are not part of the space Europe (Germany, Austria and Finland), strengthening state control or through special powers ‘golden shares’ (Belgium, France, Poland and Italy) and / or the arrest of most of the capital (Lithuania and Iceland) ” .
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