Li Ka-shing favorite

Hong Kong billionaire Li Ka-shing is favored to buy the Norweb electricity distribution business owned by United Utilities Plc in a 1.5 billion-pound transaction, the Observer said, citing unnamed analysts.

Li's Cheung Kong Infrastructure Holdings offered more than rival bidders including JPMorgan Chase, Goldman Sachs, UBS AG and Macquarie Bank, the newspaper said. Deutsche Bank is advising on the sale.

(China Daily 10/16/2007 page15)