squidd - semantics I suppose. The NDRC has imposed a new condition on their provisional finance approval, a new condition that requires the involvement of a 3rd party.
That is as good as telling Hanlong to go jump. As I have said all along, Hanlong are rank amateurs and were never going to be given approval to buy SDL on their own.
This has now come to fruition as predicted by me.
And who has the whip hand in these negotiations? Do you think that there are steel mills bidding against each other to negotiate a deal with Hanlong to be the partner?
No way. NDRC have picked one, maybe Wuhan, and Hanlong, if they want to stay involved, will have to accept whatever deal is proposed to them by Wuhan. Maybe 5%?
In anycase, the end game is now end of February.
No way Hanlong can come up with $5 million so will be all over.
Wuhan, or whoever it is, will step in. Hanlong will step out.
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