Privatisation fever takes grip
First the downturn, then the sale of state assets – it is like a rerun of the 1980s.
Privatisation is again sweeping the world, with governments hauling in a record $213bn in revenues last year in a massive sale of everything from ports to phones and gambling companies to gas groups.
The US was the surprise leader in a stellar year for state sell-offs in 2010. It racked up $49bn in revenues, according to Privatisation Barometer, a joint project between KPMG and Fondazione Eni Enrico Mattei, a Milan-based research institute.