Hong Kong’s Merger Muddle

Merrill Lynch offers what could well be described as “the best advice money can buy.” And, when it comes to being paid a huge sum to give advice on the acquisition via a 50-year lease by Hong Kong’s Mass Transit Railway Corporation (MTRC) of the assets of the Kowloon Canton Railway Corporation (KCRC), the government is getting what it is, indirectly, paying for.

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