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Wednesday, August 03, 2005

CNOOC - the end of the story

CNOOC, the Chinese company which planned to enter the US market for a strategic acquisition of Unocal and constantly hold on to their valued target gave finally up.

A resource industry is strategic and this made the bit vulnerable to opposition, especially in times of resource-scarcity, rising oil prices and tension between the US and China.

So clearly, it was highly likely that the opposition was political and in favour of the Chevron bid.

Times are changing, and old mental models hang behind. It will take time until the fear of each other subsides. May be then, we will see something similar again. Until then, well, sorry CNOOC.

(By Asia Business Consulting)

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