02 October 2012 18:21 [Source: ICIS news]
However, the NDP said that a growing number of Canadians are opposed to the bid, since they are doubtful about the transaction's advantages for the country.
The party called for public consultations, and it called on Harper to clarify the concept of “net benefit” for Canada under the Canada Investment Act – the legislation under which foreign takeovers are decided.
The concept came into doubt after Harper's government in 2010 rejected a bid by Anglo-Australian miner BHP for fertilizer major PotashCorp. Before that,
Political commentators said that a rejection of CNOOC’s bid would harm Harper’s plans to expand trade and investment ties with
CNOOC, for its part, in 2005 failed in a bid to acquire US-based oil firm Unocal. At the time, CNOOC blamed political opposition in the
($1 = €0.78)
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