China reportedly looking at Canada oil takeover

Toronto's Globe & Mail newspaper reported Chinese interests were in talks to buy Canada's Husky Energy Inc controlled by Li Ka-shing's Hong Kong conglomerate Hutchison Whampoa. The news pushed the Husky share price up 4.5% on the Toronto Stock Exchange Friday. Including that rise, the Husky price has increased 11% in a month, closing Friday at C$34.88 (US$29.60). Two years ago, PetroChina looked at buying the company, but pulled out of talks over pricing.