"But one source said the detention followed repeated requests by...

"But one source said the detention followed repeated requests by the NDRC that Mr Liu step aside and allow regulators to complete the troubled takeover."

If this is true then China will deal directly with Sundance and the transaction should still happen, albeit at a lower price.

For me, Hanlong were playing hard ball in their negotiations with the mills and after a while China had enough and are taking over. Thats my take on it.