glencore "very interested", page-11

If I am right, GJ has China by the balls.

A term sheet with a penny less for a 45c takeover could trigger the termination of the "PRC" takeover.

As for previous Streetalk (leaks by SDL I suspect) articles, any counter has to be AT LEAST in the 50 cents + figure.

Now, this is where the SOE bit comes in and it will be announced AFTER a counter is registered formally.

Then the Chai Lese can using the SOE excuse to save face (justifying the new financing power) to outbid Glencore.

Problem is the NDRC will still have egg on it's face after insisting on a "resonable price" only having to fork out more (perhaps a lot more) to secure China's ONLY viable option of owning from mine-to-port of a long-life, high-grade, low-cost IO province.