Originally Posted by peasant
Interesting viewpoint - so the fact that Swire Pacific is a HK based company, and has been so for all it's history, it doesn't count as a HK interest?
You seem to hjave forgotten history and how all the "hongs" got their start in China and H.K. (or how H.K. came about in the first place). The Chinese have
long memories and the past of these companies such as Jardine Matheson and Swire will never be forgotten by the Chinese leadership (of any political stripe, I wager). That's why K.S. Li's takeover of Hutchison Whampoa was greeted so well by the PRC.
Well, I guess Victor Li is now interested in aviation so could take over - having tried to buy Air Canada - but then again, he is Canadian, so guess they aren't HK interests. Plus his father was born in Shantou, which isn't HK either...
What matters is that he is
Chinese and his family is known and friendly with the PRC (so much so that some in the Canadian "intelligence" service are worried about his father's empire in shipping and ports worldwide). Correct me if I am wrong but there's no evidence V. Li ever gave up his H.K. residency/BNOC or whatever it was he had. I doubt if the Swires have ever had any interest in living in H.K. from cradle to grave.
Last time I checked, Swire (UK) stakeholding in Cathay was effectively 13%. This is a lower foreign shareholding than exists in MU or CZ, which allow up to 35% foreign shareholding.
You could argue that SQ shareholding in VS is 49% but that appears to give SQ zippo influence at VS.
Swire still indirectly and directly controls the companies that own CX. It's not a matter ownership but a matter of control, and Swire just happens to control CX. Until Swire relinquishes control, and surrenders management to locals (H.K. or mainland), it'll still be seen as foreign company and will thus be hobbled.