Not so long ago it was the Qataris who were sweeping up British assets and businesses, but now the wall of money is increasingly coming from China and Hong Kong.
Today’s £32 billion bid for the London Stock Exchange from Hong Kong Exchanges and Clearing (HKEX) comes as Li Ka-shing’s CK Asset Holdings closes in on a £4.6 billion takeover of Greene King and Guo Guangchang’s Fosun International leads a £900 million rescue of Thomas Cook.
In the wake of the Greene King move there has been much talk of the Chinese state and Hong Kong-based billionaires taking advantage of the weak pound to snap up UK assets on the cheap, and it is doubtless a factor — but only one of many factors.
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