China Three Gorges said to be scaling back $10.3b EDP bid

China Three Gorges said to be scaling back $10.3b EDP bid

A cooling tower vents steam from the Ribatejo thermal power plant, operated by EDP-Energias de Portugal SA, in Carregado, near Lisbon, Portugal, on Thursday, March 22, 2012. Photographer: Mario Proenca

China Three Gorges Corp. is planning to scale back its 9.1 billion-euro ($10.3 billion) takeover offer for EDP-Energias de Portugal SA amid concerns about political hurdles and valuation, people familiar with the matter said.

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