HONG KONG: A group of companies controlled by Hong Kong billionaire Li Ka-shing has agreed to buy UK gas company Wales and West Utilities for 645 million pounds ($1 billion), the latest acquisition by the tycoon that will boost his gas portfolio in Britain.
Octogenarian Li has been expanding his business empire by buying into regulated infrastructure and utilities assets in developed countries, especially Britain -- which is open to foreign ownership of its infrastructure assets.
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