Chinese buy stake in Thames Water!

http://www.bbc.co.uk/news/business-16643989

China Investment Corporation (CIC), the country's sovereign wealth fund, has bought 8.68% of the company behind UK utility group Thames Water.

It is the fund's major share purchase in the UK, and follows a visit to China this week by Chancellor George Osborne.

Thames Water is owned by Kemble Water, a consortium of investors led by Australian bank Macquarie.

CIC was set up in 2007 to invest some of China's huge $3.18tn (£2tn) in foreign exchange reserves.

In a one-sentence statement on its website, CIC said it bought the stake through a wholly-owned subsidiary. No purchase price was disclosed.

Thames Water, acquired by Kemble in 2006, is the UK's largest water and sewerage company, serving about 14 million customers.

CIC chairman Lou Jiwei had said recently that his company was interested in investing in European and US infrastructure.

Speaking about the deal, the Chancellor said: "This is a significant step by China. It is a vote of confidence in Britain as a place to invest and do business.

"This investment is good news for both the British and Chinese economies."

Are they after the mitten crabs?

Paul Snell wrote:

Are they after the mitten crabs?

but they could have those for free surely?

and not bad for austrailia to

As Mcmillan said of Maggie T 'They (the goverment ) are selling the family jewels' he was reffering to selling off public owned companies Gas ,electric,water,phone etc,and raising income from these sales.I dont know how GO can justify British Companies being owned or partly owned by foriegn countries being 'good for britain' It is good news for the Chinese investment who will reap billions of pounds in share dividends over the next 10-50 years.

John LeSurf

Angling Trust Member 48450

A middle east consortium recently bought 10% as well a few months back...


Richard

A legitimate gamble or a bit of nudge, nudge, wink, wink say no more squire?
I no what my moneys on