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Tuesday, November 01, 2005 

Chinese Company Bidding For Exxon Operates From $150/Month Flat?

BEIJING (Reuters) - The firm behind a $450 billion (254 billion pounds) bid for the world's top oil company is run from an $150-a-month apartment in the outskirts of the Chinese capital. No one answered the door at the listed address of King Win Laurel Ltd., a company that filed papers with U.S. regulators on Monday to buy Exxon Mobil Corp. at a 25 percent premium to its current value. "A company? That would be impossible," said the neighbor, a woman named Zhu. She reckoned the rent was 1,200 Yuan a month for apartments in the 20-storey building in the Tong Zhou district around 50 km (30 miles) from Beijing's centre.

This same “company” made an offer last year to buy out Australia’s largest telephone company Telstra Corp. Ltd. One man show, out of small apartment in China. If you ask me, either we have a very good scam artist trying to score big, or we have a back ally Chinese government operative here. This one gets the big “What the ….”