Potential China Takeover of Kalahari Gets Namibia Approval

Bloomberg reported the potential takeover of Kalahari Mines (LSE:KAH) by  China Guangdong Nuclear Power Group Co. has been endorsed by Namibia.

As quoted in the market news:

China is pursuing new sources of the fuel to feed rising demand for atomic power in the world’s second-largest economy. Kalahari, whose directors recommended the Chinese bid announced last month, owns 43 percent of Extract. Guangdong Nuclear said today the Kalahari stake pledged to it by the company’s directors is now 3.7 percent, up from 2.2 percent after Chairman Mark Hohnen exercised options over 4 million shares.

Click here to read the full Bloomberg report.