CKI still in race for high-speed rail

Cheung Kong Infrastructure Holdings (SEHK: 1038) (CKI), controlled by Li Ka-shing, had made it past the first round of bidding for the only operational British high-speed railway, High Speed 1, a person close to the deal confirmed.
The Hong Kong-listed firm would not partner any company in bidding for the 30-year lease of the 109-kilometre rail link from London to the Channel Tunnel, the person said.
The first round of bidding was completed last week, said another person familiar with the deal, based in Britain. "Given that the bidding process is expected to be completed by the end of this year, I don't expect there'll be many more rounds."
The British government had set a deadline of March 31 next year for the completion of the deal, the British source said. The expected price range was £1.5 billion (HK$1.73 billion) to £2 billion, the person added. The successful first-round bidders have been asked to submit binding offers by October 29, according to a Reuters report.
At least four parties passed the first round. They include a consortium comprising Eurotunnel, Goldman Sachs Infrastructure Partners, M&G's Infracapital, Britain's Universities Superannuation Scheme and the infrastructure arm of France's Caisse des Depots et Consignations, as well as another consortium comprising Morgan Stanley Infrastructure, 3i Infrastructure and the Abu Dhabi Investment Authority, according to Reuters. A third consortium includes the Ontario Municipal Employees Retirement System and the Ontario Teachers' Pension Plan.
At the Infrastructure Investment World Asia conference earlier this month, CKI group managing director Kam Hing-lam had declined to say whether his firm was bidding for High Speed 1.
However, he said: "[Britain] is a country where we have investments. We like to invest in a country where we have investments."
In July, Cheung Kong (SEHK: 0001) Infrastructure, with other companies and organisations controlled by Li, emerged as the preferred bidder in its proposed £5.775 billion acquisition of the British electricity assets of French energy conglomerate EDF.