Market regulator lifts suspension on trading of EDP, EDPR shares
The Portuguese regulator has lifted the suspension of trading in the shares of EDP and EDP Renováveis, which had been in force since Monday.
The Portuguese Securities Market Commission (CMVM) has lifted the suspension of trading in the shares of EDP and EDP Renováveis, SA, which had been in force since Monday.
In two notes published on the site, the CMVM says that these decisions arose “following the disclosure of relevant information”.
António Mexia, chairman of EDP, and João Manso Neto, chairman of EDP Renováveis, were suspended from their functions in the company as a measure of coercion decided by judge Carlos Alexandre in the EDP case.
A source linked to the case told Lusa on Monday that Mexia and Manso Neto are still obliged to bail of one million euros each.
The suspension of functions had been proposed by the Public Prosecutors’ Office (MP) as part of the inquiry into the EDP case, which is taking place in the Central Criminal Investigation Court.
The inquiry investigates the procedures relating to the introduction in the national electricity sector of Costs for Maintenance of Contractual Balance (CMEC), with António Mexia and João Manso Neto being indicted in June 2017 on suspicions of active corruption and economic participation in business.
EDP’s excessive rent process has been under investigation by DCIAP for about eight years.
