Hi red, China will secure Sundance but will pay dearly all likely of her own doing . Its just an opinion.
If the hanlong Chinese employees and head in Australia didn't commit serious economic crime and delaying the takeover process by 8 crucial months, maybe China could have got away with taking over Sundance for a song at 57c. The asic / firb stall could have made all the difference.
Problem is the Chinese just couldn't help themselves and decided to opportunistically low ball the bid wasting another couple of months in the process. This could have been the pivotal mistake the Chinese will never forget.
I don't mean the delusional tactics of showing to the io cartel who is boss by playing destocking games. I mean chinese miscalculations that they would not have the exclusivity taken away. In other words, China once again overestimated her political clout. We know one of the IBs commissioned by Sundance for the tender targets India.
I don't think the Europeans comercial entities alone could have brought to bear the influence and pressure for China to lose the exclusivity. For this reason I don't think its a 2 horse race.
Whom do you think will get hurt the most by all the greenfield projects getting mothballed. Do you know China brought that upon herself.
The Chinese know short term pain is better than long term pain.
SDL Price at posting:
10.0¢ Sentiment: Buy Disclosure: Held
