Chancellor opens door to takeovers from sovereign funds - papers 25 July

Amid rising concern in the West over secretive “sovereign wealth funds” controlled by China, Russia and other Asian and Middle East states, Alistair Darling will insist that Britain not erect barriers to thwart these powerful new players on the global business stage. The Chancellor will use his first keynote speech since taking over from Gordon Brown to argue that the British economy has benefited greatly from inward investment. He will say that the UK must continue to welcome overseas investors in its businesses, whether through mergers, equity stakes or other capital backing, and that ...