umc in afr pgs 17 and 22, page-7

chinese interest might finally get bhp-rio interested in what's going on at railway.

i cant imagine either/ or merged entity would welcome the chinese taking a big stake in the heart of their operations ... just messy considering how quickly loss of face appears to become an issue.

time for bhp to do a jv on fair terms with umc, or just take umc out?

whatever the deal, its the wider implications that add to the competitive tension that will drive the value here.

i say let the speculation of umc's true worth begin.