re: costello will block this... not
"foreign ownership is always a problem"
No, it is not. Foodland's supermarket assets are now owned by foreigners. Woolworths. Australian last time I looked. In Australia, there are laready hundreds of multinational subsidiaries. Shell, BP, Unilever, Heinz ... All foreign owned subsidiaries are subject to Australian Taxation law. Repatriated profits is not an issue. They will have to be re-invested somewhere, typically where there can get economic returns. If Australia fits the bill, there may well be further investment in Australia.
Dont forget, that even in the case of Woodside, it was Shell who made the original investment and taught Woodside the LNG business, in partnership with BHP. But BHP decided to divest a few years back.
Gottliebsen mentioned this in his Australian article today. 'Thank god for Costello' he said.
By blocking Shell takeover, it enabled Woodside from being an LNG minnow in global terms, to potentially becoming 4-5 times bigger its current size and rivalling Shell in global terms.
This is now a globally integrated economy folks. Get used to it.
CML Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
