Chalco gives up on bid to buy Mongolia's SouthGobi - MarketWatch: ""Turquoise Hill and Chalco have concluded that the proposed transaction has minimal prospect of obtaining the necessary regulatory approvals within an acceptable timeframe," Mongolia-focused miner Turquoise Hill said in a statement.
The Chinese metals major was to have taken over Turquoise Hill's majority stake in SouthGobi for $920 million. The deadline for Chalco's offer was set to expire Tuesday. Chalco wasn't immediately available for comment Monday."
'via Blog this'
