People, in general, don't bother trying to understand various aspects of foreign investment into different business operations. In case of AltaLink, this actually does make sense.
AltaLink delivers its revenue from a few very large corporate customers (i.e. Enmax, Epcor etc.). This revenue is based on the fixed return on assets that is strictly regulated by AUC/AESO. In essence, AltaLink's business is not dissimilar to a variable bond investment. When I read Corbella's argument against selling AltaLink to Buffett it is very apparent to me that she is only voicing Nancy Southern's concerns who's (legitimately) worried about losing ATCO's and CU's market share in Alberta utility system. The fact is, Buffett cannot take the electric transmission system away from Alberta. He can only take away the return on his investment in it. Does it make a lot of difference if this profit goes to SNC Lavalin's shareholders' (who are international) or Berkshire Hataway's shareholders? I'd say, absolutely not.
I do have a different opinion on foreign investment in strategic resources owned by the people of Alberta (Canada) but this is would be off-topic here.
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