What, then, will infrastructure funds do with their piles of cash? One clear trend is a broadening definition of what constitutes infrastructure, which now appears to include assets as diverse as mobile telecommunications masts, ferry companies and metering businesses. The problem is that many of these hardly meet the criteria that make infrastructure an attractive investment -namely, predictable returns on investment over the long term. Motorway operators, for example, often earn most of their revenues from retail spending -not exactly utility-like

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Posted by dcjaya at December 30, 2007 12:49 AM