Canada PM: Cnooc-Nexen deal raises difficult policy questions

10/4/2012

Canada PM: Cnooc-Nexen deal raises difficult policy questions

BY OAUL VIEIRA

OTTAWA--Canadian Prime Minister Stephen Harper said Thursday that Cnooc Ltd.'s proposed $15.1 billion takeover of Canada's Nexen Inc. poses difficulty policy questions for his government.

He made the remarks in Ottawa at a public appearance with Tanzania's president, Jakaya Kikwete, to announce an investment promotion and protection deal between the two countries.

The Canadian leader has said in the past the deal, led by Beijing-controlled Cnooc, is unique due to its size and that it involves a state-owned enterprise.

Mr. Harper said his government is reviewing the transaction to ensure it provides a so-called net benefit for Canada.

Dow Jones Newswires

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