Word: stake
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...better part of the last four months doing something no other CEO of a state-owned Chinese company had ever done. He campaigned - in an open, very western way - to gain approval in Australia for what would have been China's largest foreign investment ever: a proposed $19.5 billion stake in Rio Tinto, the world's second largest mining company. The deal would have given Chinalco roughly an 18% stake in Rio, as well as outright control of some valuable copper and iron ore mines. Xiong travelled to Australia in March and made television appearances to plead his case...
...future intellectual leaders, take the time to learn more about what’s at stake, and then act on that knowledge,” he said...
...time to buy Hummer," says Liu Chang of Sinomind Management Consulting in Beijing. "GM wouldn't sell it if it was in better shape." But China's previous results from acquisitions of foreign automakers have been poor. In 2004, Shanghai Automotive Industry Corp. paid $500 million for a 49% stake in South Korea's Ssangyong Motors, which declared bankruptcy in January...
...soared 10% to $11.9 billion. In the same period, Bank of America, which at the time owned some 19% of the Chinese lender, earned just $4 billion, down 73% from 2007. That's all you need to know to understand why Bank of America in May sold a 5.8% stake in China Construction Bank for $7.3 billion. Bank of America has been so badly hurt by the U.S. financial crisis that it needs to raise billions of dollars to recapitalize. Meanwhile, Chinese banks are making money hand over fist as China's economy continues to expand. (Read "Bank of America...
Unlike Obama, PM Harper conceded that he is not optimistic about recouping the billions of dollars Canadian taxpayers are giving to GM. Perhaps that's a more realistic approach given that at today's market capitalization on the NYSE, Canada's 12% stake in the automaker is worth a shocking $54 million. (The U.S. and Canadian bailout of the automaker is nearly 130 times the company's present value...