nmc
Well-Known Member
I am reposting this just to put in context my remarks below.
I remember soon after the takeover a radio proramme (R5?) in which Schindler and David Bernstein discussed the takeover. Bernstein made a very strange remark. He said "City are being taken over by mysterious men from the East." What could he have meant by that? AbuDhabi and the UAE as a whole were hardly a mystery; they had been extremely active in outward investment all over the world, in real estate, agricultural land, and services. Indeed, in the same edition of The Times in which the takeover was analyzed in detail, there was a major spread on AbuDhabi's investment in agricultural land and a story that they were negotiating to buy or lease a tract in Khazakstan which was the size of Wales. They were a British ally, with a close military/arms relationship to us. Not mysterious at all. Bernstein also criticized the takeover on the grounds that the shareholders had received poor value. Well, that would be for them to judge and refuse the offer.
Just sayin'.
Poor value....? I think we were pretty much bankrupt - so any offer was acceptable.