October 22, 2012 / 4:10 PM / 5 years ago

Canada PM says policy framework for takeovers coming soon

OTTAWA, Oct 22 (Reuters) - Canadian Prime Minister Stephen Harper, pressed over the shock decision to block a bid by Malaysia’s Petronas for Progress Energy, on Monday said his government would unveil a set of guidelines for foreign investments.

Harper told a news conference that the guidelines would be unveiled at about the same time Ottawa decides on the fate of both the Progress deal and CNOOC Ltd’s much bigger proposed takeover of Nexen Inc.

Harper also said the government would not comment further on the Petronas deal, which is now subject to a 30-day review period.

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