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ECT News Community   »   E-Commerce Times Talkback   »   Re: CNOOC Will Continue to Pursue Unocal Bid

Re: CNOOC Will Continue to Pursue Unocal Bid
Posted by: Joe McDonald 2005-06-30 10:28:00
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CNOOC will press ahead with its takeover bid for Unocal despite a planned shareholder vote on a competing offer by Chevron and Unocal's recommendation that it should be accepted, the Chinese company's chairman said today. In an interview with The Associated Press, Fu Chengyu expressed confidence that CNOOC will persuade Washington the US$18.5 billion offer for the ninth-largest U.S. oil company doesn't pose any risks to American national security.

Re: CNOOC Will Continue to Pursue Unocal Bid
Posted by: klmassey 2005-06-30 11:35:35 In reply to: Joe McDonald
I think the so-called "United" States will be making a grave error to allow the Chinese to buy out Unocal. I believe everything they are saying about keeping American's employed, not affecting our security on various levels and so forth,
is nothing but a lie. The Chinese do not honor contracts as the U.S. does, and I know this first hand from a close relative of mine currently being screwed over in China over a contract not being honored regarding 3 restaurants she started. They are completely ignoring the contracts and doing what they want.
To say this is only economics and not politics, who are they kiddding? ANYTHING with oil is political.
Do NOT sell UNOCAL to China!!! Get out of the greed mode, take a lower bid and keep it American, for what little we have left of this country.
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