Since Hong Kong returned to Chinese rule in 1997, the Commonwealth has ceased having relevance to most people in the former British colony. But not for Li Ka-shing, the city’s richest man.
Cheung Kong Infrastructure, his energy and water company, is an avid investor in Australia, Britain Canada and New Zealand as a result of their stable regulatory environments and steady returns on assets.
It was this strategy that led to Mr Li’s decision to buy the UK electricity distribution business of France’sEDF for £5.8bn ($9.2bn) last week.
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