One of the key tenets of SOCIALISM is that the Sovereign must OWN the means of production, which is to say, the mines, oil fields, farms, manufacturing facilities, and so on. In Venezuela, they actually went to socialism, which wrecked the economy, largely because of endemic corruption.
In civilized countries the Sovereign cannot simply TAKE things that belong to private citizens (or corporate entities). The Sovereign must either pay a fair value for them or they remain in private hands.
It is not clear from this article whether the "socialism" in Portugal would be of the Scandinavian variety (not actual socialism), or it will be socialism per se. One hopes that the former is the case.
One thing that history makes clear is that once Socialists take over, they do what is necessary to retain power "forever." This is one of the many reasons why socialism is evil. More fundamentally, taking money from productive people and passing it out to non-productive people is THEFT, hence, evil.