The fate of Cnooc's (CEO) $15B takeover bid for Canada's Nexen (NXY) could depend on the outcome...

|By:, SA News Editor

The fate of Cnooc's (CEO) $15B takeover bid for Canada's Nexen (NXY) could depend on the outcome of a much smaller deal: Bank of Nova Scotia's (BNS) pending C$720M takeover of the Bank of Guangzhou. The bank deal is an example of the reciprocity Stephen Harper’s government insists it wants, but the Canadian bank has been waiting for Chinese government approval since Christmas.