and the firb rumours

  1. 635 Posts.
    1131 [Dow Jones] MIM (MIM) down 3 cents or 1.8% at A$1.67, having dipped to
    A$1.65, on profit-taking below Xstrata offer price at A$1.72. Tops volume with
    44 million shares traded. Isolated talk of possible hiccup with FIRB approval
    sparked selling. However, general opinion remains that, given ACCC approval,
    FIRB unlikely to block Xstrata offer, which shareholders widely expected to
    approve June 6. MIM would be a lot lower if there were serious concerns about
    FIRB approval. Xstrata rose 8.0% last night, recovering from fall previous
    night. (DWR)

    1213 [Dow Jones] Spokeswoman for Resources Minister Macfarlane can't explain
    talk of Foreign Investment Review Board threat to Xstrata bid for MIM (MIM).
    Notes minister is "at arm's length" from case, awaiting FIRB recommendation;
    adds isn't aware of strong lobbying from Queensland politicians to protect MIM
    from foreign ownership. Spokeswoman muses miner might be suffering from recent
    AUD strength "given MIM is export-focused." Stock down 1.8% at A$1.67 vs Xstrata
    offer price of A$1.72. (VTB)
 
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