Fund May Move U.K Investment on Concern Over Corbyn: Telegraph

(Bloomberg) -- The prospect of a U.K. Labour government led by Jeremy Corbyn prompted a major Canadian pension fund to consider moving an investment in Anglian Water out of the country, according to the Sunday Telegraph.

Canada Pension Plan Investment Board, which holds a third of Anglian Water, is in talks to transfer its shares to a Hong Kong holding company amid concern a Corbyn government would seek to nationalize the company, the newspaper reported, without saying where it got the information.

U.K. Prime Minister Theresa May is facing opposition from Labour and members of her own Conservative party, as parliament prepares to vote Tuesday on her deal to take the country out of the European Union. Corbyn said Friday that it looks likely the deal will be voted down, and that could lead to a general election.

The Canadian pension fund is seeking to move its investment to benefit from protection against the expropriation of assets granted in the bilateral treaty covering the U.K’s 1997 handover of Hong Kong to China, the Telegraph reported.

To contact the reporter on this story: Mark Burton in London at mburton51@bloomberg.net

To contact the editors responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net, James Amott

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