AP Worldstream: CNOOC’s failed bid for Unocal only a temporary setback for Chin
“In Australia, where Chinese oil, mineral and steel companies have been actively courting strategic partners, a takeover attempt on Woodside would face “significant hurdles…”: “An attempt by Anglo-Dutch oil giant Royal Dutch Shell PLC to take over Woodside in 2000 was blocked by the government on national interest grounds.”
Sunday Aug 07, 2005
ELAINE KURTENBACH
Chinese oil company CNOOC’s failed bid for Unocal Corp. was a painful lesson for Beijing on the potential pitfalls of overseas mergers and acquisitions, but it’s unlikely to spoil China’s growing appetite for foreign investments _ including in the U.S.
Hungry for energy and other natural resources and driven by political and commercial imperatives to seek out new markets, advanced technology and brand names, Chinese companies are bound to keep hunting for global investment opportunities, despite the political risks, analysts said.
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