business spectator piece

This is from this mornings Business Spectator Breakfast Deals column. I think they have their facts wrong as it wouldn't make sense for Shougang to have halted it's shares this morning to say no deal could be done.

Wrapping up

It seems that Gold Coast billionaire Clive Palmer may have been let down by another Chinese party, Shougang, not so long after China Metallurgical pulled out of a JV with his Gladstone Pacific Nickel. Shougang has failed to settle on a funding agreement with Australasian Resources, in which it holds a 6.33 per cent stake. Palmer, who owns 66 per cent in Australasian, an iron ore company, may have to pick-up the tab.

full article

http://www.businessspectator.com.au/bs.nsf/Article/BREAKFAST-DEALS-Great-deals-of-China-pd20090706-TNTR8?OpenDocument