Canada says to continue talks with Petronaspublished Sun, Oct 21 2012 14:32 GMT
CALGARY/TORONTO (Reuters) - Canada could still approve the C$5.17 billion ($5.22 billion) acquisition of Progress Energy Resources Corp by Malaysian state oil company Petronas , the country's finance minister said on Sunday, despite blocking the bid late last week. While observers predict a chaotic market reaction following the federal government's statement late on Friday that the deal did not provide the "net benefit" required from foreign buyers under the Investment Canada Act, Finance Minister Jim Flaherty said on Canadian television that negotiations continue. ...
Click for more articles from news.yahoo.com
|
|