Glencore to flush out Lonmin bidders?

[miningmx.com] – THE proposed distribution of Glencore’s 24.9% stake in Lonmin to its shareholders might also be a ruse to flush out potential bids for the investment, said BDLive.

Kobus Nell, a portfolio manager at Stanlib, told BDLive it was quite possible that Glencore wanted to force the hands of parties who had a weak interest in Lonmin and had been playing for time.

If no bids came through, Glencore would exit the stake anyway, which it had clearly decided was noncore, and it would not be willing to pump more money into the company, said BDLive.

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