I don't think there is much doubt about FIRB based on some of the recent rejections as they have been based on either national security issues (Woomera) and on national security issues and consistency (going back to OZL/Minmetals), the other reason was based on the market concentration.
EME is small in the scheme of things.
I understand that the chinese may have approached FIRB prior to making an offer which may have indicated there was no fundamental objection to their bid. It will still require formal approval which I suspect is a mere formality. Time will tell.
EME Price at posting:
96.5¢ Sentiment: Buy Disclosure: Held
