A delegation from the Chinese Development Bank are in town this weekend. This is to put the finishing touches to the finance term sheets.
Is there a chance that they will make the announcement early next week, whilst the delegation are here. It would be a huge PR exercise not only for MOL but Hanlong and the Chinese Development Bank also. This deal will be the largest investment by a Chinese company outside of China.
Once the finance is arranged it would surprise me to see MOL take another move to expand its operations.
Lots to look forward to patience to be rewarded.
MOL Price at posting:
$1.10 Sentiment: Buy Disclosure: Held
