A back door to China gives Treasury Wines some hope
A back door to China gives Treasury Wine some hope Share Some investors are betting that a sharp rise in Australian wine shipments to Hong Kong towards the end of calendar 2020 might mean Penfolds owner Treasury Wine Estates could still salvage something from its $500 million China business being decimated by punishing tariffs. It comes as chatter in London about potential takeover bids pitched at $16 per share persists, although the uncertainty about how well Treasury Wines will be able to re-allocate premium wines to other markets over an extended period means any buyout proposals would inv...