In China, a Stake in Blackstone Stirs Uncertainty – Keith Bradsher and Joseph Kahn

The New York Times reports on the reaction within China to the government proposed purchase of a $3 billion stake in the American private equity firm Blackstone:

The Chinese government is acquiring nearly 10 percent of an influential investment company without a repeat of the fights that surrounded a bid two years ago by a state-owned oil company, Cnooc, for an American rival, Unocal, or last year’s effort by DP World of Dubai to assume management of American port terminals.

While Blackstone is well known in global finance, it is not a household name in the United States and the sale of the stake has attracted little attention in Congress. But in China, opinion remains divided between those who see the deal as a way to buy a big stake in an important company and those who worry that the government is leaping into deals without a clear investment strategy. [Full text]

CDT EBOOKS

Subscribe to CDT

SUPPORT CDT

Browsers Unbounded by Lantern

Now, you can combat internet censorship in a new way: by toggling the switch below while browsing China Digital Times, you can provide a secure "bridge" for people who want to freely access information. This open-source project is powered by Lantern, know more about this project.

Google Ads 1

Giving Assistant

Google Ads 2

Anti-censorship Tools

Life Without Walls

Click on the image to download Firefly for circumvention

Open popup
X

Welcome back!

CDT is a non-profit media site, and we need your support. Your contribution will help us provide more translations, breaking news, and other content you love.