revision preference src: With the outbreak of World War I, the British government confiscated German equities and handed them over to an English financial group led by Owen Philipps, chairman of the Union-Castle Line, which did much business in Portuguese East Africa, but which found the concession to be more of a liability. <SEP> tgt: With the outbreak of World War I, the British government confiscated the German equities and handed them over to an English financial group led by Owen Philipps, chairman of the Union-Castle Line, which did much business in Portuguese East Africa, but which found the concession to be more of a liability.