the panel, page-40

Hi JC
I understand everything you are saying about the crooked Russian system. I see Victor as an ace in that system.
What I dont understand is WHY?
WHY offer to buy FMS for 30c? WHY get a minority share holder to put the brakes on?
You cant tell me that Victor didn't know he needed political permission to buy FMS. Of course he knew. This isn't the first time he would have needed Russian (Putin's) approval to make a big move.
But there seems to be little point to this venture.
I dont think it involves stopping rail discussions with FMS/FMG/QLD rail etc. What would be the point?

The theory I think best fits the situation is one hinted to on John Helmer site. He said MMK needed iron ore. MMK thought great I will buy FMS. But another Russian player who supplies iron ore has said, no dont get it from Australia, merge with us and we will be a big powerful player. The Russian politicians liked that idea better and so they put their heads together to give MMK an "out" from buying FMS.
Other than that explanation I can not think WHY the heck Victor would be interested in messing with a small player like us (FMS).