Your English writing platform
Discover LudwigExact(10)
The New York Times reported today that sales of private stakes in the company value it at $80bn.
Though the government has reversed a previous policy of allowing majority private stakes in oil production, it has opened up refining and the gas industry.
The Sky Italia satellite unit and various private stakes add more than $6 billion, and holdings in publicly traded companies bring another $10 billion-plus, three-quarters of which is accounted for by News Corporation's 39 percent stake in BSkyB.
Investors bought it anyway, with one eye on the country's fast-growing economy and the other on its offshore gas reserves.Greater demand should spur the supply of stocks, through sales of private stakes or privatisations.
They are to experiment with larger private stakes and greater independence for directors.Although generating fewer headlines, moves by local governments to sell their companies could be even more significant for the Chinese economy.
Besides liquidity, the problem is in valuing these private stakes.
Similar(50)
Nationalist politicians still block any private stake in the oil company.
In his spare time, he ratcheted up his private stake in Midway Games, a video game maker, to 68percentt of its stock.
France's finance minister, Thierry Breton, leant heavily on French members of parliament last summer to get them to support a new law to approve a change to the privatisation increasing the private stake.But further pitfalls lay ahead.
An earlier political deal, to appease socialists and the communist trade union that has a stranglehold on GDF, had limited the private stake to 30%.Mr de Villepin saw a chance to gain popular support defending French jobs by rallying to the Suez cause to hold off any Italian takeover.
The private stake is up to around 50%, by some accounts.
Write better and faster with AI suggestions while staying true to your unique style.
Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com