SouthGobi shares plunge as Chalco walks away | Reuters: "(Reuters) - Shares of SouthGobi Resources Ltd (SGQ.TO) fell more than 17 percent on Tuesday, a day after China's Chalco (2600.HK) said it had dropped its $926 million takeover bid for the Mongolia-focused Canadian coal miner in the face of political opposition.
The state-controlled Chinese aluminum giant blamed the failure of the deal on the difficulty of gaining regulatory approval. SouthGobi's stock tumbled 17.8 percent to C$2.21 on the Toronto Stock Exchange on Tuesday morning."
'via Blog this'
