Interesting sub holder notice today, CSN has been buying at...

Interesting sub holder notice today, CSN has been buying at around $16 per share and is obviously not going to be a seller at the current price. So together with Tata, the two own around 41+% of RIV so I truly cannot see how RIO can possibly get to the 50% threshold. What does that mean?

Well, I think that they either drop the 50% condition or increase the price if they want to get anything out of this takeover bid. The only alternative would be to drop the bid altogether. I can't see the latter happening because they would surely not have gone into this thinking that all these corporates and instos were going to fall over themselves to accept their first offer.

Interesting times...

regards
DF