The Glencore/Xstrata merger is a foregone conclusion.
It has the green light of all shareholders, the board, hedge funds, soverign funds and all international anti-trust, anti-competition regulators. China is sticking out like a giant sore thumb.
In other words, it's just a matter of time no matter what game China plays.
We have known for years that the GlenXstrata merger is all about Iron Ore. Financing by GlenStrata which is a $209 Billion company by sales (possibly in a consortium involving some "western" or Jap/Korean steel mills can't be ruled out) is no issue.
From the African's POV, they would be comfortable that their resource WILL be developed.
China depsite all the bluff and share price destruction of Sundance is all "BLUFF". The NDRC tantrum at the Big3 shows us they really have no say in iron ore pricing.
The Chinese are in a position of weakness.
SDL Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
