City cool on Balfour takeover reports

摘要

The City has played down reports that a Chinese state construction company is preparing a £2bn takeover bid for Balfour Beatty. According to a report in the Sunday Times, China Civil Engineering Construction Corporation (CCECC) has "sounded out industry figures" over a potential deal for the UK's biggest contractor. But analysts this week told Construction News it was unlikely any approach has been made or that investors would be keen to sell. "This seems like it's someone flying a bit of a flag," said one analyst, who wished to remain anonymous. "If Balfour did get taken out, the Chinese would make sense [as a buyer],but that doesn't mean someone is going to do it."