G. Bin Zhao, Executive Editor, CHINA’S ECONOMY & POLICY and Managing Director, Gateway International Group Limited, says today at South China Morning Post, unlike CNOOC’s failed bid in 2005 to buy Unocal, its proposal to acquire Nexen has considerably more chance of success, and, on the whole, a deal would benefit both China and Canada.
China National Offshore Oil Corp announced last month that it was proposing to buy Canada-based Nexen in a US$15billion deal. This caused quite a stir in Canada, with the domestic mainstream media reporting it widely. By contrast, the response of the Chinese media and public appears rather muted.
