No it doesn't hold. Do you understand that business is FLUID? Circumstances CHANGE? Hanlong taking up Talbot's stake in March/April changed the game. The Chinese might not have let this known to the board straight away, but from March/April onwards, I doubt the Chinese Steel Mills would have had any intention of signing JV deals, even if they kept talking to management.
No it doesn't hold. Do you understand that business is FLUID?...
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