There’s something striking about the timing of Victor Li’s bid for Greene King, as the pound trades against the Hong Kong dollar near levels last seen in the mid-1980s. With about two months to go before the Brexit deadline, and further potential currency weakness, it fuels the debate about opportunities to scoop up U.K. assets that look cheap on paper. Maybe it’s little wonder that there’s interest, as U.K. domestic shares (with at least 70% of sales within their home market) have depreciated since 2018 and have just hit a 10-year low in U.S. dollar terms. The case for those stocks has been made before, but is ... (full story)