china scuttles hanlog for other chinese bid

As I said , the withholding of the bank guarantees is precisely because the PRC knows Han Long will be implicated and that the investigation that will last for a year as confirmed in the Age story (without FIRB approval)

My bet is that Han Long will soon sells it's stakes to another Chinese entity.

In any case, the Chinese reputation is already damaged but they need the resource more than ever before. (India will NOT exist as a IO exporter in just 5 years)

This is good as the Chinese will have to fork out a lot more money for the next take over to overcome any resistance and to wrap things up quickly.

http://www.theage.com.au/business/hanlong-investigation-spreads-to-offshore-accounts-20111207-1oi20.html