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08/03/16

13:49

Post #: 17217026
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Originally posted by Super Sleuth ↑

Dear Sir/Madam,
Media Regarding Minority Stake in Fortescue
Fortescue Metals Group Ltd (ASX: FMG, Fortescue) notes media commentary regarding Fortescue’s ASX release issued to the market this morning, 8 March 2016, regarding a non-binding Memorandum of Understanding (MOU) with Vale.
Media reports have stated that Vale may buy up to 15 per cent of Fortescue’s capital on-market and potentially invest in its existing and prospective mines.
As stated in Fortescue’s ASX release, the MOU provides a framework for potential investment by Vale in Fortescue, through a minority acquisition of shares on market, in addition to investment in current or future mining assets.
Fortescue would like to clarify that the MOU contemplates an acquisition of its listed shares of between 5% and 15%, as agreed between the parties.
Fortescue is aware of its continuous disclosure obligations to the ASX and the ongoing commitment to update the market, if and when, there are matters to disclose.
Yours sincerely Fortescue Metals Group Ltd

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Stock Code: FMG and Vale

So what is the real value to Vale???

oversupply is the real issue.

any way trades have been good recently in FMG
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