August 2, 2005
CNOOC Leaves the Field
CNOOC has decided to withdraw from the competition for control of Unocal Corp., the Califorinia based oil company. CNOOC stated that the policitical reaction to its initial bid had caused it to withdraw. Pundits are now speculating on the after effects of the CNOOC decision. "Will China now be harder on United States companies seeking to invest in China???" This is difficult to imagine as China now severely limits the return most United States companies earn on their Chinese investments.
August 2, 2005 | Permalink
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