massive trading in kim yesterday reignited rumours the strugling diam. producerwas being sized up for potential $400milion takeover bid by big london group gem diamonds.
kim executive miles kennedy said he could not explain the market volume
the trading included several lagde parcels crossed after the market had officialy closed, with often idicates an aggressive buyer is traingto get position
mr kennedy said kim was yesterday removed from S&P 200 index
the market has been awash with rumours since february that kim was being eyed by uk-listed gem but kennedy said yesterday he had not spoken to the company
"if it comes it comes,and it will be cheap" kennedy said
kim shares closed at 72.5c amid the rumours that gem, withhas a market value of more than 1.5 bilion, was poisedto make a bid at around $1 a share as early as this weekend,
KIM
kimberley diamond company nl.
the west australian today
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