Who says Fortescue management want to diversify? Twiggy owns 36% of Fortescue shares, soon he'll have 20% of MCR and he has stakes in a lot of other pies (WA beef for example). It seems to me that he is diversifying a holding across pure play companies. A lot of people have lost or are losing money on Poseidon Nickel who believed that FMG was going to buy them out ... it never happened.
Ann: Change in substantial holding, page-6
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