Your Ticket To The Privatization PartySusan Scherreik
It's being trumpeted as the asset sale of the century--and you're invited. From Italy to Taiwan, scores of governments, caught up in a free-market frenzy and needing cash, are selling shares of state-run companies to the public. This sweeping global privatization movement, involving more than 50 nations and expected to raise some $300 billion over five years, should provide opportunities for individual investors. "Privatizations tend to be good long-term plays," says Vikram Pandit, managing director for equity capital markets at Morgan Stanley. "These are often the largest companies in their countries and thus blue chips in basic industries."
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