Yanzhou's bid for Yancoal faces regulatory snag

摘要

Chinese miner Yanzhou Coal's bid to take full control of its Australian subsidiary Yancoal is facing significant regulatory hurdles that could force it to cut rather than increase its stake in the mining firm. Australia's Foreign Investment Review Board (FIRB) could force Yanzhou to sell down its stake in Yancoal to make at least 30pc of the stock available on the Australian Stock Exchange (ASX), which it agreed to do when it created Yancoal in 2009.