macarthur still hoping for rival to peam bid , page-4

http://www.theaustralian.com.au/business/opinion/citic-keeps-its-macarthur-cards-close-to-its-chest/story-fn7rgef9-1226131726753

IF CITIC Group is, as its website proclaims, "a window on China's opening to the outside world", most would argue the view has been largely obscured.

The Chinese group is renowned for being secretive and it has proved typically inscrutable when it comes its 24.6 per cent shareholding in Macarthur Coal.

While rumours have raged about CITIC putting together a consortium to gazump Peabody Energy and ArcelorMittal's sweetened $4.9 billion bid for the miner, it's understood that the Chinese group is more likely to facilitate a higher bid rather than participate as a partner in a bidding consortium.

CITIC, which is being advised by Macquarie Capital and Orion Corporate Advisory Services, has had seven of its own people working around the clock to facilitate a higher offer. It is understood CITIC has been in discussions with all parties that spent time in the Macarthur data room prior to last week's sweetened PEAM bid....