Deals
Stuck in U.K., Billionaire Li Says Brexit Pain to Last Years
- Tycoon’s bid for Australian electricity distributor blocked
- Li warns Brexit fallout to last at least two to three years
Billionaire Li's Empire Strikes Back With Stellar Results
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Hong Kong’s richest man, one of the biggest investors in the U.K., hit a setback in his efforts to cut his reliance on Britain and warned the fallout from the nation’s decision to leave the European Union will last for years.
"The withdrawal of the U.K. from the European Union will bring with it considerable challenge both for the U.K. and for Europe for at least the next two to three years," CK Hutchison Holdings Ltd. Chairman Li Ka-shing said in an earnings statement on Thursday, his first public remarks on Brexit since the June 23 referendum.