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2009-5-26 12:23:00 p.m. HKT, XFNA
DJ MARKET TALK: Stone's Discount To Buyout Bid Likely To Persist
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| 1212 [Dow Jones] Stone Group (0409.HK) +21.7% at 42 HK cents on trade resumption, earlier touching 44.5 HK cents, but continues trading at visible discount to privatization offer of 48 HK cents/share. Such gap unlikely to close any time soon, due to HK investors' perception major holders' buyout has less chance of success given recent landmark PCCW (0008.HK) case, in which privatization blocked by HK court; NTEEP's (2633.HK) privatization bid also runs into some regulatory trouble. Crocodile (0122.HK) trading suspended today, pending minority shareholders' vote on privatization offer; outcome likely keenly watched.(RLI) Contact us in Hong Kong. 852 2802 7002; MarketTalk@dowjones.com
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(Delayed by 1 hour)
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