| Over the 1990s foreign direct investment (FDI) flowed into Latin America at an unprecedented rate. During this period, capital inflows associated with privatisations and private mergers and acquisitions (M&As) rose especially steeply. Drawing on original firm- level transactions data, this article examines the extent to which UK enterprises participated in the Latin American privatisation and private M&A boom. The authors conclude that, relative to their counterparts in many other major industrial countries, UK enterprises adopted a cautious posture, largely eschewing privatisation opportunities and concentrating M&A activities across relatively few operations, sectors and countries, in order to strength product and market positions. Moreover,... |
