Uranium One Says Paladin Stake Bought for ‘Investment’

Businessweek.com reports on Uranium One’s recent acquiring of stake in Paladin Energy is for “investment purposes”.

Paladin shares rose as much as 11 percent to A$4.07 in Sydney trading after it disclosed Uranium One’s purchase of at least 9.84 million shares to the Australian stock exchange. The stake amounts to about 1 percent of Paladin’s 717 million shares outstanding, according to Bloomberg data.

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