Shell gets time to decide deal

SHELL Electric has the stock exchange's approval for a further extension of time required for the despatch of the circular about its proposed acquisition of interests in 12 companies in Shunde, Guangdong.

The circular is now expected to be sent to shareholders by March 24. The previous deadline was February 28.

Shell agreed to buy a 60 per cent stake in the 12 joint venture companies for 644 million yuan (about HK$570 million)