Veolia’s big bid for Haikou Water

The French company has agreed to pay a gobsmacking price for the utility serving the capital of Hainan Island.

Veolia has won the auction for a 50% interest in Haikou Water Group, with an ambitious bid which has both pleased and concerned the Haikou municipal authorities. At RMB950 million ($123.2 million), Veolia’s bid for the utility which serves Hainan Island’s capital is equal to 306% of the minimum bid price of RMB310 million ($40.2 million) – and was more than double the bid of...

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