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The Guardian - UK
The Guardian - UK
Business
Nick Fletcher

Traders hear bid talk in mining minnow Kopane

A bit of bid speculation among the minnows, with Kopane Diamond Developments said to be in the frame for a takeover.

The story goes that a Dubai group, Saad Investments, is trying to buy the 28% stake in Kopane held by Obtala Resources for 22p a share, and will then bid for the whole company. Saad already has a 44% stake in Petra Diamonds, and traders believe if it succeeds in buying Kopane, which has a strong presence in Lesotho, it will try and merge the two operations together.

Kopane is currently unchanged at 12.25p, while Petra is down 3.25p at 59.75p.

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