EDP Bid In Line With Eletrobras' Strategic Vision

BMI View: We believe that Eletrobrás' offer for a 21.3% stake in Portugal's EDP aligns very well with the company's strategic plan towards international expansion and increasing focus on renewable energy. This is a good move for an EM-based company as access to technology and better regulated markets will help to hedge some of the volatility in its home market.

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