Ann: Market update - SELM Proposal , page-13

tfish,
Not quite sure what you mean by "tease"
It is clear that the market is not expecting SELM to succeed(even if a formal offer is made)
It is also clear that Jindal is interested in aquiring RCI,but it is not getting it for 0.30/s...Not while Wu Pun Yan controlling 51.7%.
What I am saying is that market reality might force Jindal to make an "acceptable" offer,probably a little discounted from SELM "non formal" offer.
Jindal's intentions are clear with its blocking stake of 27% ...It will eventually acquire RCI,but it has to make an offer Wu Pun Yan "can't refuse".
I don't think Jindal's aim is only to be a party pooper.