sinosteel close to full midwest control , page-8

Do you honestly think that MMX sold their Sino stake on a whim to simply raise some extra cash? Do you think that MMX mmgt have done it without the knowledge of Harbinger?

Look at it rationally. MMX bought into MIS at a significantly lower price than $6.38 (I can't be bothered finding exaclty what it was.) They realise that the second that Sino's bid expired MIS will go from $6.37 to sub $4.00. Or a loss of around $50m. The mmgt of MMX realised that it will be a long time beofre Sino try to get them out with a higher bid and with (real) inflation like it is it will probably be worth about the same anyway.

Harbinger is a different story. We all know that he bought in at a higher price than $6.38. He is not looking to make a quick buck. He is particulary not looking to lose money (I assume) He is waiting for a Portman/Cleveland Cliffs deal to come his way whereby he can make some money on the deal.

Guess we will wait and see how this all pans out.

As for CHM well they are a bunch of noobs anyway. Let them have their fun for now.