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 Post subject: Not a happy proposition
PostPosted: Sat Jul 31, 2010 12:13 am 
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Li Ka-Shing, Asia's richest man, has bought EDF's British electricity network business for £5.8bn. This is a deal we are told, that will see its £500m pension deficit for UK workers reduced by a quarter. Advisers to Li Ka-Shing said the investor was "delighted" by the deal and could now look to buy more regulated assets in the UK. They said he had been attracted by sterling's stability and the regular returns of the UK power market.

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 Post subject: Re: Not a happy proposition
PostPosted: Sat Jul 31, 2010 1:02 am 

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As an Asian business man, he probably has a much better idea of his future interest rates than any Western conglomerate can have, maybe he isn't even borrowing to the same level.
It is hard to know what will retain its value when the the sewage works hits the wind farm and he may judge that GB will weather the break-up of the euro and the ensuing 're-structuring' of the EU better.
One important point is that he'll want a secessionist government in.

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 Post subject: Re: Not a happy proposition
PostPosted: Sat Jul 31, 2010 1:12 am 
"Li Ka-Shing, Asia's richest man" - never has a man been more amply named!


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 Post subject: Re: Not a happy proposition
PostPosted: Sat Jul 31, 2010 9:08 am 

Joined: Mon Aug 01, 2005 6:11 pm
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Location: The European State of Insanity
This is starting to sound like a thriller with one of those greek-letter-random-adjective titles.

The Theta Agenda. An east-asian businessman takes over large swathes of the UK's power generation capacity and then holds the country to ransom until it repeals the European Communities Act, and only Rick Brent can stop him! But Rick is torn by his loyalty to his new country and the woman he loves but has never met.

Honestly, I feel like I'm in a badly written novel these days.

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 Post subject: Re: Not a happy proposition
PostPosted: Sat Jul 31, 2010 3:10 pm 

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I just hope it doesn't all go wrong in a Premiership Football Club Buyout-style.

I lost track of how often Portsmouth were bought by a stream of 'richest men' from far-flung places. In the end, they all turned out to be crooks and charlatans.

And who can forget 'Sir' Allen Stanford arriving at Lords with his millions?

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 Post subject: Re: Not a happy proposition
PostPosted: Sat Jul 31, 2010 3:18 pm 
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Charlie wrote:
I just hope it doesn't all go wrong in a Premiership Football Club Buyout-style.

I lost track of how often Portsmouth were bought by a stream of 'richest men' from far-flung places. In the end, they all turned out to be crooks and charlatans.

And who can forget 'Sir' Allen Stanford arriving at Lords with his millions?


Yeah, especially as this is our electricity. I do not give a tinker's about footballers, but this could be serious.

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 Post subject: Re: Not a happy proposition
PostPosted: Sat Jul 31, 2010 3:26 pm 

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Location: Oxford, UK
Plenty of sabotage of our electricity supply is already going on, without picking Mr Li out as a particular concern. The next thing to look out for is some stupid carbon-reduction measure which would make it worth him shutting down our power and generating it elsewhere. And if that happens, it won't be his fault..


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 Post subject: Re: Not a happy proposition
PostPosted: Sat Jul 31, 2010 8:57 pm 

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Mosquito,

Shades of our steel making being shipped to India. Thank goodness electricity costs more in transmission than pig iron does. Back in the days when coal was king, it was cheaper to deliver coal 100 miles by rail to a local power station than to generate electricity near the pit and use the national grid for distribution. Them's were the days.

Perry

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 Post subject: Re: Not a happy proposition
PostPosted: Sat Jul 31, 2010 10:04 pm 
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Report this postReply with quoteRe: Not a happy proposition
by TW » Sat Jul 31, 2010 12:12 am

"Li Ka-Shing, Asia's richest man" - never has a man been more amply named!


'aptly'' ?.....TW got in before me PDT_Armataz_01_22 ...such a brilliantly onomatapoeic given name is without peer but, inevitably, the Ermine will be added later when Lord Ka-Shing of the Septic Isles takes his seat among the Immortals.
Maybe we need a soupçon of devious Eastern thinking...we seem to have none of our own left.

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 Post subject: Re: Not a happy proposition
PostPosted: Mon Aug 02, 2010 10:38 pm 
Actually it may be a good time to buy a distribution business. The cost of bills is going to rise (due to the green subsidies introduced by Huhne) and there will be huge profitable opportunities in power generation in wind & solar power. But, there will not be sufficient investment to stop the price of electricity going up, as demand outstrips supply. With a lack of competition in distribution, it is not just the electricity generators that will share in this bonanza. Margins will rise in distribution as well.


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