chakay, IMO i don't think so, it's times like this that present us with great oportunities.
UMC is one of those for FMG and they will take that opportunity as soon as they can.
The UMC ground is to valuable for a Co that wants all the action such as FMG to do a JV. why pay more in the future when you can pay less now, that was the FMG did when it started the land grab before the IO boom....
