15.12.2008 - Chinese ‘cautious’ on acquisitions
From Taipeitimes.com: China Investment Corp, the nation’s US$200 billion sovereign wealth fund, paid US$5 billion last year for 9.9 percent of Morgan Stanley and invested US$3 billion in Blackstone, the world’s largest private-equity firm. Both New York-based companies have lost more than two-thirds of their market value since the investments were made. China Development Bank, which funds the nation’s public works, spent 2.2 billion euros (US$2.9 billion) for 3.1 percent of Barclays Plc in July of last year and bought another GBP136 million (US$203 million) of stock in June..... Full Article: Source