Hi EllaBella,
As Matt747 regularly points out, and I agree 100%, the Chinese are very big on 'saving face'.
The last time they bought an iron ore company at the peak of a commodity price cycle (in 2009 when Sinosteel bought Midwest for $1.5b) ended up badly for everyone involved because it was very embarassing to the Chinese government.
I don't think they will want to make the same 'mistake' twice.
yes or no, page-17
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