sdl takeover looks like a done deal, page-5

"Moreover, Sundance said it had shortlisted the preferred potential partners and had entered into commercial negotiations.

All of this no doubt bemused Hanlong as it would be well aware that the Chinese authorities frown on Chinese entities competing over the same investments.

If a Chinese group already has a foothold in a company or project, there is an unofficial hands-off.

That approach would extend to Hanlong, even though it is not a state-owned enterprise. Instead, it is a privately owned conglomerate with interests in mining, energy, pharmaceuticals, industrial chemicals and technology."