Possible scenario;
If Xstrata is serious about making a bid here, that would put even more pressure on the interest Chinese SOE's to secure a JV deal. The Chinese would not want this asset falling out of their hands, and a bid from an 'outsider' may be just what we need to finally secure a JV deal from Sinosteel/WISCO/Whoever.
Whatever happens, it's exciting times!
xstrata, page-7
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