albidon involved in xstrata tangled web

[excerpt]
Some think [Lion Select's] Widdup might have eyes for the WA-based African miner Albidon Limited.

http://www.theaustralian.news.com.au/story/0,25197,23705628-30538,00.html

There has been talk this week that Morgan Stanley, one of Beadell's advisers, has been shopping for a 10 per cent stake in Albidon. So speculation about Lion's interest seems logical given its two African Lion funds already control 20 per cent of the miner, which will soon be an operator.

That view, however, is based on busted paradigms. Widdup, it seems, has dropped plans to operate. He is expected to brief the market today on the new direction of Lion, which will include a shareholder-pleasing $200 million capital return.

Now, since Widdup can't really do anything without the endorsement of a shareholders' meeting because of the Indophil offer, pleasing shareholders will be fundamental to the success of both his and Xstrata's scheming.