dams sale controversy, Portugal

Dams sale controversy: municipalities confident the €110 million will come their way

After so much in the way of arguments and counter-arguments, mayors affected by the sale by EDP of six dams on the Douro have left a meeting with the AT tax authority confident that the ‘missing’ €110 million in stamp duty will in fact come their way. The deal saw EDP making €2.2 billion. Former environment minister João Pedro Matos Fernandes never appeared to rate the municipalities’ claims, but dogged persistence by civic movement “citizens of Terras de Miranda” seems to be likely to pay off, reports SIC today. The entire sale is the subject now of an investigation by the Public Ministry for alleged fraud.