Thursday June 23, 2005: The state-run Chinese oil company CNOOC today said it was confident of winning a takeover battle for the US firm Unocal with a cash offer of $18.5bn (£10bn). Fu Chengyu, CNOOC's chairman, told Reuters he expected to beat a rival bid from Chevron while maintaining an investment-grade credit rating despite concerns that the acquisition would drive CNOOC into debt.
I hope the US government BLOCKS the sale of a major US oil company to a socialist, state-owned Chinese outfit.
We shouldn't sell to tyrannical socialists for filthy lucre what we defended with our blood.
ASIDE: THIS IS DIFFERENT than if some private Chinese BUSINESSMEN - with NO TIES to the Chinese socialist tyranny - want to buy ANYTHING in the USA.
UPDATE: more HERE.
UPDATE #2: Another reason we shouldn't allow the CHICOMS to buy a US company is BECAUSE THEY DON'T LET PRIVATE U.S. COMPANIES BUY CHINESE COMPANIES - THEY ONLY - REPEAT - ONLY ALLOW FOREIGNERS TO HAVE MINORITY - REPEAT - MINORITY OWNERSHIP OF CHINESE COMPANIES. What's good for the goose is good for the gander. I think this is a secondary issue, though; the PRIMARY issue is the fact that it is the CHINESE GOVERNMENT and one of their state-owned companies that wants to purchase UNOCAL. This must NOT be allowed to happen.