Pandev, the Chinese are clearly trying to screw SDL simply because they think they can get away with it.
Now that they have the FIRB approval in hand (which is still a mystery to me how the fall guys took the bullet for the motherland - figuratively speaking), the PRC thug finally shows its true colors after agreeing to the terms at the time of the placement and the NDRC extension (to among other things review the 50% increase in high grade IO). No mention of the 50% increase in high grade IO, just threats, coercion and intimidation. They are behaving more like the triads than a proud nation in ascendency.
Shame !
As I say again, we don't need another bidder to flush the Chinese out. We just sit on it until the men in Beijing decide that have already wasted much more than $150M in a game of EMPTY bluff that thet cannot win.
SDL Price at posting:
33.5¢ Sentiment: None Disclosure: Held
