china has no choice but complete t.o, page-5

Deltrotter I think China will blink first. Any counters will not respond until China has set the floor price. Sundance will remain in suspension until there is success or failure with striking a deal with Hanlong or with the SoE. All the while China plays hard ball with glencore regarding the xstrata merger. This deadlock is counterproductive for China. They should soon announce a HL - SOE to preserve the FIRB approval legitimacy and continue with HL's bid and reserve the right to increase the offer in the future so that the Africans can move on and not be held further hostage to Chinese greed.