Canada's Flaherty says unaware of deadline for CNOOC-Nexen verdict

Fri Nov 30, 2012 12:29pm EST
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VICTORIA, British Columbia Nov 30 (Reuters) - Canadian Finance Minister Jim Flaherty said on Friday he was unaware of any deadline for the government to announce whether it would approve two major foreign takeover bids.

Ottawa last month extended the review period for a bid by China's CNOOC Ltd for Nexen Inc to Dec 10, although that can be pushed back again if both parties agree. The government is also studying a bid by Malaysia's Petronas for Progress Energy Resources.

"There is no time deadline of which I'm aware of," Flaherty told reporters when asked whether he expected the decisions by Dec. 10. "We are having continuing discussions on the subject. It's a very important decision for the government of Canada, it has long-term consequences for foreign direct investment in Canada, so there is no specific time limit."