I think for KAH holders its end game.For EXT holders, there is...

I think for KAH holders its end game.

For EXT holders, there is still a hope that we may get a better price because bar KAH EXT's holding together with RIO and Itochu holdings, the minority assuming those accumulating since last year have been special hedge funds, can negotiate a better price with RIO if they are interested in a significant but not majority stake (assuming Itochu retains holding). This is on the assumption that RIO is happy with this kind of arrangement being a stake holder as well as an owner/operator in JV with a consumer. This scenario looks like a win-win and RIO will not be stepping on the Chinese Sovereign 'toes' again.

All assumptions and got to stay positive and try to think what RIO will do to get their priorities optimised. I can only hope for the hedge funds/top 20 holders not aligned to the 3 interest to strike a 'fairer' price on my behalf.