PetroChinashareholders should prepare for share price jitters. From Friday, the Hong Kong companies that acquired strategic stakes in PetroChina during its initial public offering IPO in April will be free to sell all of the 2.13 billion shares they hold in China's biggest oil company. The strategic investors in question are the listed arms of Hong Kong's top tycoons and are more typically involved in property, telecoms and infrastructure.
Thankfully for the strategic investors involved - Cheung Kong, Hutchison Whampoa, Sun Hung Kai Properties and Chow Tai Fook controller of New World Development - what started out as a piece of high level guanxi...
