The Portuguese state obtained the green light to enter REN (Redes Energéticas Nacionais), taking a position that allows it to have more influence in the management of the energy sector company. This entry of the state marks a change in the shareholder structure of REN, which until now had other dominant interests.
The owner of Zara, Amancio Ortega, left REN to make way for the Portuguese state. The departure of the Spanish businessman, through his investment funds, opened the way for the state's entry, which intends to play a more active role in the administration of the company.
China continues to have significant weight in REN, being the shareholder that most influences the company's decisions. Despite the entry of the Portuguese state, Chinese interests remain the most relevant in the shareholder structure of the energy company.
The new public position of the Portuguese state failed to cheer investors, and REN's shares did not register any gains after the announcement. The market proved insensitive to the state's entry into the company.
