OOIL deal: Proof Hong Kong families have a price

The sale of the Tung familly's empire to COSCO illustrates Hong Kong's tycoons' willingness to cash in via sales to Chinese SOEs, 20 years after the handover.

OOIL deal: Proof Hong Kong families have a price

A company inextricably linked to Hong Kong’s first chief executive Tung Chee-hwa is to be sold to its biggest Chinese rival in a deal that perhaps serves as a metaphor for the city's relationship with China, 20 years since it was returned to Beijing rule.

According to a joint statement on Sunday, China’s largest state-owned shipping conglomerate Cosco Shipping Holdings Co. Ltd has agreed to buy Orient Overseas International Ltd OOIL, the world’s...

To continue reading, please login or register for free

Click for more on: china | soe | belt and road | cosco | politics

Print Edition

FinanceAsia Print Edition

CONFERENCES