Two companies owned by billionaire Li Ka-shing have agreed to sell a Shanghai commercial development for 20 billion yuan, or nearly 3 billion U.S. dollars.
The deal marks another asset sale in China by the tycoon, who has sold commercial buildings, supermarkets and energy companies worth more than 100 billion yuan over the past three years.
1. What is the business rationale behind this latest move by the tycoon?
2. Reports say Li Ka-shing has been increasing the pace of overseas acquisitions, particularly in infrastructure, telecoms and retail businesses in Europe. Does this mean that Li is changing his investment structure?
Doug Young, associate professor at Fudan University and former China company news chief at Reuters.