Reuters India: Russians, Japanese vie for CSN unit
Ok, well, not unknown, but we are not certain who they are. There are a couple separate lists provided by different people, so I tend to not trust them. The valuation numbers are more interesting. We are seeing a $10 billion price tag for the whole project or $6.7 billion for two-thirds. Of course if you read my blog, you would have already known that. (See this post.) I called $7.2 billion for two-thirds, so I was a bit off. Let’s see where it ends up. The liquidity crisis we are under right now is going to lower the number of bidders because anyone who would be bidding with borrowed money–JSW, Tata, and others–is not going to be able to make a bid. I expect that the Chinese or the Japanese have the least need to go to the banks, and that might make them the winner.
Sorry I have been writing less. Now that we have the top 10, I am going to aim for one to two editorials a week. I am not going to find short news articles and write about them in the quick blurb style as others are quicker and funnier at that.
