Blast from the past as Nadir returns
KCS-content whatsapp Blast from the past as Nadir returns Thursday 26 August 2010 8:17 pm whatsapp
Share A TORY Prime Minister is slashing the budget, Iron Maiden are top of the album chart and now exiled tycoon Asil Nadir is back in the UK. It’s like the 1980s never ended.Nadir, 69, touched down to a media scrum yesterday, accompanied by his glamorous 26-year-old wife, Nur. Tanned, wearing a double breasted suit, only his thinning hair and hunched gait belied his 17-year hiatus. As he awaits court proceedings in September he will be living in a £20,000-a-month Mayfair flat. It seems he has lost none of his love for the finer things in life.In many ways, Nadir’s tale is a perfect reflection of the enterprise, glamour and excess of the 1980s. During his heyday he was blessed with a Midas touch. He took the reins at an all but unheard of textiles firm called Polly Peck, a small fashion house that had shuffled along since 1940 without ever causing a stir. Within five years it was a FTSE 100 company, a vast conglomerate, selling everything from mineral water to electronics, fashion to fruit.By 1983, its stock had rocketed to a staggering £35 a share. Some investors received returns of more than a thousand times their initial outlay.Nadir became a public figure, donating £500,000 to the Tory party, befriending top politicians and brushing shoulders with royals.But even then, the company’s fortunes were sometimes rocky. Its share price crashed when vital tax breaks were withdrawn by the Turkish government, taking it years to recover.By 1990 it had built back up to 450p a share, valuing the firm at almost £2bn. But Nadir was still convinced his empire was undervalued and he made an ill-fated attempt to take it private, before unceremoniously ditching the plans just a month later.Then the tycoon reached his own, very personal, nadir.Later that year the Serious Fraud Office (SFO) stepped in after being tipped off about alleged money transfers to Northern Cyprus. The company lost practically its entire value overnight.Officers discovered millions pounds worth of the firm’s assets had been transferred into Nadir’s name, and found dozens of unexplained transactions, which Nadir claimed were personal banking services for Turkish and Northern Cypriot businessmen.Nadir was bankrupt and the firm was placed in administration, while the SFO began the three-year process of trawling through the labyrinthine company reports.Rumours spread like wildfire about the firm and it’s controversial chief executive. Tales abounded that Nadir kept 14 “girlfriends” on the company books as special consultants.The Midas touch became the kiss of death as others were drawn into the fray. Close friend Michael Mates, the Northern Ireland secretary, who believed Nadir was being set-up by MI6, gave him a watch engraved: “Don’t let the buggers get you down”. Nadir was placed on bail worth £3.5m, with the SFO convinced they could stand up a £34m fraud case against him, claiming he had stolen from shareholders. But when the bail elapsed in 1993, he made his infamous bunk to his homeland, where he remained a fugitive for 17 years.It emerged during a court hearing in July this year that Nadir was never, legally speaking, on the run because technically bail had never been granted in the first place. Now, back in the UK his arrival will force the Serious Fraud Office (SFO) to pick up where it left off almost a decade and a half ago. Fears are already growing in legal circles that it may prove near-but impossible to try Nadir on multiple fraud allegations given the time that has elapsed. Crucial documents are believed to have been lost and his lawyers are expected to stress the practical obstalces of undertaking a trial after so long.TIME LINE | THE RISE AND FALL OF ASIL NADIRMay 1941Born in Lefka, northern Cyprus.1960sAfter studying in Istanbul, moves to the UK to work in his father’s business.1986Wearwell, Nadir’s fashion business, floats on the London stock exchange for £12m.1990Stockbrokers demand Nadir pay up for trading in £3.6m worth of Polly Peck shares and file a bankruptcy petition. 1991Polly Peck collapses with debts of £1.3bn, following a Serious Fraud Office probe.1992Nadir in a disputed hearing is set a £3.5m bail after being charged with 66 counts of false accounting and theft.1993Nadir flees to Cyprus two days before a hearing for a £34m fraud trial. Late 1990s Nadir runs a successful media company in Cyprus, defying calls to return to Britain.1 July 2010Nadir promises to return to the UK if the government guarantees he will not be kept in custody.26 August 2010Nadir returns to British soil after 17 years.3 September 2010Trial is scheduled to begin. Show Comments ▼ Tags: NULL
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Show Comments ▼ SPORTS DIRECT NETS A WORLD CUP BOOST SPORTS Direct, the biggest seller of England team shirts, saw profits rise during the World Cup despite the side’s dismal performance. In the 13 weeks to 25 July, sales jumped 8.8 per cent to £408m, while profit rose 17.8 per cent to £185m. Chief executive Dave Forsey said: “These results clearly show that Sports Direct had a good World Cup.” Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndo
Gartmore to woo advisers Sunday 19 September 2010 10:25 pm KCS-content whatsapp ASSET manager Gartmore is to launch a national roadshow aimed at persuading independent financial advisers the group is recovering from the traumatic departure of one of its star fund managers, Guillaume Rambourg, and the net withdrawal this year of £1.9bn in funds.The firm will meet more than 2,700 advisers before the end of the year with the aim of convincing them its retail investment funds are still a safe bet for their clients.The roadshow will be supported by an advertising campaign focusing on the investment firm’s growth expertise in absolute return and fixed income funds. It will also be adding to its US equity fixed income and special events driven teams.Gartmore manages around £20bn in assets but has had a tough year with confidence in the firm rocked by an investigation by the Financial Services Authority (FSA) into trades conducted by Rambourg, who had been part of the group’s pan-European equities team headed by Roger Guy. Rambourg was initially suspended in March but reinstated as an analyst before leaving the company in July to assist the FSA investigation. Gartmore has seen 40 per cent wiped off its value since listing on the stock market in December 2009, losing a third of its share price as a result of the investigation into Rambourg’s trades.Gartmore chief executive, Jeff Meyer told a Sunday newspaper: “We want to show it is business as usual. We want to demonstrate a positive energy about Gartmore.” Tags: NULL by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farminvesting.comCanceled TV Shows Announced: Full Updated Listinvesting.comthedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comWorld LifestyleCouple Has No Idea Why Photo Goes Viral, Then They Notice This In The CornerWorld Lifestyle
whatsapp Show Comments ▼ More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgUK teen died on school trip after teachers allegedly refused her pleasnypost.comPuffer fish snaps a selfie with lucky divernypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comSidney Crosby, Alex Ovechkin are graying and frayingnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Share
Clarke, who took up his post in May, described how the taste tests had been held up and down the land – including in church halls – as he sought to emphasise the family nature of the company’s dealings. He repeatedly mentioned the word “quality” and said that it was just as important as keeping prices as low as possible. Clarke, formerly chief operating officer at the company, said Asda’s own brand, sandwiched as it is between the cheaper Smart Price brand and the more expensive Extra Special items, was losing its identity, despite still flying off the shelves. The company gave no projections on how many extra sales they hoped to generate through the re-launch but said the taste tests had revealed a wealth of information about UK consumers – including the fact they like toffee rather than chocolate in their desserts and that spicy jalapeno hummus is not to the liking of most shoppers. A massive TV advertising campaign is due to start next week, but will not feature any famous faces. That is in-keeping with Clarke’s constant refrain that: “We are putting the people of Britain at the centre of this.” The Chosen by You range hit the shelves in Asda’s 377 stores yesterday. While one executive said the project was aimed at resurrecting an “invisible brand”. Clarke will be hoping the chain can turn the re-branding into something that can keep the tills ringing as well as being given plaudits for quality, which he also seeks. Show Comments ▼ “Customers said they tasted the difference. This is a real watershed.” “No other retailer has moved so aggressively to seek not just the counsel but the consent of the very people who buy and eat their products.” whatsapp KCS-content Asda unveils £100m brand make-over Tags: NULL 
whatsapp More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.com by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.com THE unveiling of Asda’s Chosen By You range saw chief executive Andy Clarke take centre stage as he claimed the £100m project would be “game changing” because it was the first time a supermarket had put so much time and money into updating its mid-range products.More than 40,000 consumers across the UK took part in taste testing as the supermarket giant sought to add some extra flavour to its own label food and drink brand of 3,500 products. The current range is worth sales of around £9bn a year already but the top brass at Asda believes it has more potential and was in need a of a massive overhaul. After a nine month project, the company gave birth to 500 new products as well as recipe tweaks to others and a re-think on packaging which saw an army of designers trying to make the range as attention grabbing as possible. “This is a game changing imprint because it gives our customers control,” Clarke said at the launch in Marylebone. Share Tuesday 21 September 2010 7:22 pm
Share David Frost stands down as head of BCC Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap whatsapp whatsapp DAVID Frost, director general of the British Chambers of Commerce (BCC), announced yesterday that he intends step down in 2011, after eight years in the role.Frost said he was leaving the BCC in better shape that he had found it saying he was brought in to raise the organisation’s profile and level of influence, a job he said he felt was now done.“I have developed relationships with the new government and the long awaited spending review has now been delivered – a long-term road map for re-balancing the UK economy,” he said.Frost added he had agreed with the board of the BCC to leave in the second half of 2011. They will begin the search for his replacement in the coming months. Prior to taking the helm at the BCC Frost was chief executive of Coventry and Warwickshire Chamber of Commerce and Business Link. Tuesday 26 October 2010 8:03 pm Show Comments ▼ Tags: NULL KCS-content 
whatsapp Share whatsapp Commerzbank hit by mortgage losses Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoMoneyPailShe Was Famous, Now She Works In {State}MoneyPailUndoNoteabley25 Funny Notes Written By StrangersNoteableyUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan TimesUndoElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldUndoZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndo Commerzbank has been hit by losses on commercial mortgages and the costs of integrating Dresdner Bank, it has reported.Third-quarter net profit of €113m (£97.6m) was below a €164m analysts’ estimate,.However, it is a turnaround from a loss of more than a billion euros a year ago.Commerzbank’s eastern European business dropped to a loss in the third quarter from a small profit in the previous three months.But the bank benefited from strong business at the Mittelstandsbank, which focuses on lending to medium-sized German companies, and provided an upbeat outlook for the full year in 2010 and 2011. s.“We are sailing into the next year with a tailwind and assume that the operating profit for 2011 will be higher than that seen in 2010,” said chief financial officer Eric Strutz. 
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Show Comments ▼ BAT targets tobacco firm in Colombia KCS-content whatsapp BRITISH American Tobacco is looking to take over a Colombian cigarette-maker for around £290m, sources close to the firm said last night A person close to BAT, which owns the Dunhill, Rothmans and Benson & Hedges brands, told City A.M. the firm has long been keen to buy Protobaco and plans to renew its efforts now rival Philip Morris has abandoned its advances. BAT’s spokesperson declined to comment. US cigarette-maker Philip Morris dropped its $452m (£290m) plans to take over Protobaco last week, blaming what it said were burdensome conditions imposed by Colombia’s industry watchdog.The firm would have been forced to sell some of its brands in Colombia and keep the market open for other retailers before the purchase of Protobaco was waved through by regulators. It had originally agreed to buy 32 per cent of Protobaco from its private owners in mid-2009. BAT, which already operates in the country, has a much smaller market share than Philip Morris, the biggest tobacco firm in Colombia with control of close to 50 per cent of the market share.Colombia introduced anti-smoking legislation in 2009 to limit advertising on tobacco products.A takeover would be a chance for outgoing chief executive Paul Adams to put his final stamp on British American Tobacco before he retires in February, capping off more than $5bn (£3.3bn) of acquisitions since he took the helm in 2004. FAST FACTS | BA TOBACCO● British American Tobacco was formed in 1902 as a transatlantic joint venture● The FTSE 100 firm posted a pre-tax profit of £2.2bn for the six months to the end of June 2010, up eight per cent on last year by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBeElite HeraldExperts Discover Girl Born From Two Different SpeciesElite HeraldAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteDefinitionDesi Arnaz Kept This Hidden Throughout The Filming of ‘I Love Lucy’Definition whatsapp
Sunday 9 January 2011 11:00 pm Share More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com Tags: NULL
whatsapp KCS-content Wednesday 12 January 2011 8:13 pm Technology trends in 2011 TABLETSUntil now, it was assumed that tablet computers would be snapped up by consumers. But Deloitte says a quarter of sales will be corporate.NETBOOKSCheap, relatively unsophisticated and ultra-portable netbooks will continue to eat away at the dominance of the desktop PC.APPLESteve Jobs’ runaway success is likely to continue into 2011, although he will not get the smartphone and tablet market to himself.MICROSOFTSteve Ballmer needs to come up with a way of replacing desktop PC software revenues, as newer devices grab market share. Share whatsapp
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Monday 31 January 2011 8:30 pm KCS-content whatsapp Tags: NULL whatsapp RYANAIR VS COMPENSATION LAW More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com Show Comments ▼ Share Q.WHAT RULES ARE RYANAIR CHALLENGING?A.Passengers flying within or into the European Economic Area can claim compensation if their flights are cancelled, and are also entitled to meals, two telephone calls and accommodation while awaiting a later flight. The rights also apply if a long-haul flight is delayed by more than four hours, or less for shorter journeys, under the EU regulation 261/2004.Q.WHY DOES RYANAIR OBJECT TO THESE RULES?A.The regulation places the cost or caring for stranded passengers with the airline, which Ryanair argues is unfair since the airport has more control over whether flights are delayed or cancelled. Q.CAN RYANAIR SUCCEED IN CHALLENGING THIS LAW?A.EU-261 has been in force for seven years without any successful legal challenges, so it’s unlikely that Ryanair can persuade the EU to rip up the entire rulebook. In 2005, the European Court of Justice threw out a case brought by a group of low cost airlines including Ryanair that claimed the rules discriminated against budget carriers. 
alison.lock whatsapp More From Our Partners Mark Eaton, former NBA All-Star, dead at 64nypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com Share Rio Tinto is to go ahead with its A$3.9bn (£2.5bn) takeover offer for Riversdale Mining even if it ends up with a minority stake in the Africa-focused coal miner.The offer, announced in December, was originally conditional on at least 50 per cent acceptances, but so far Rio Tinto has secured only about 41 per cent.If it fails to reach the new threshold, Rio Tinto will pay Riversdale shareholders only A$16 a share.Rio Tinto is in talks with CSN to secure a majority stake in Riversdale in a last-ditch bid to save its takeover offer, its third major deal attempt since a badly timed $40bn takeover of Alcan in 2007.Rio has targeted Riversdale for a takeover because of its hard coking coal projects in Mozambique, which could eventually supply as much as one-tenth of the global market for the key steel-making ingredient.Rio Tinto said on Tuesday it was in talks with one of Riversdale’s two major shareholders – Tata Steel and CSN – without revealing which one.Rio Tinto’s lawyer said in a letter released to the Australian stock exchange that Rio “genuinely believes that an outcome of those discussions is likely to emerge during the course of this morning”.The letter was released by Riversdale. Rio Tinto declares Riversdale bid unconditional 
Tuesday 29 March 2011 2:32 am Tags: NULL Show Comments ▼ whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople Today