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Electric bid by octogenarian Hong Kong billionaire

Li Ka-shing, the 82-year-old head of the Cheung Kong Group of companies, shows no signs of taking a back seat in his business empire as he leads a £5.8 billion acquisition bid for the UK electricity grid owned by EDF energy.  
 
One of Hong Kong's most famous businessmen is making the offer though Cheung Kong Infrastructure Holdings and Hong Kong Electric Holdings, both of which are subsidiary companies of the main conglomerate, and the Li Ka-shing foundation.
 
According to a statement released by EDF, the French energy giant is in exclusive talks with Ka-shing's consortium as the offer represents a 27% premium to the company's value at the beginning of April.
 
Despite being in his early 80s, Ka-shing (pictured) is still chairman of the two of the biggest companies within the group: Cheung Kong Holdings and Hutchison Whampoa. One of his sons Victor serves as managing director and deputy chairman of Cheung Kong Holdings, deputy chairman of Hutchison Whampoa and chairman of Cheung Kong Infrastructure Holdings.
 
Ka-shing is the world's 14th-richest person, according to Forbes, with a personal fortune estimated at $21 billion. His business empire includes property, investment, telecommunications, retail and energy. Cheung Kong Holdings had revenues of HKD$20 billion in 2009.

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