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Breakingviews: BHP spin-off unappealing

Tuesday, August 19, 2014 - 03:38

The mining giant plans to hive off some assets into a new company. But neither of the newly-created companies are likely to appeal to pure commodity players, says Breakingviews.

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So disparate views these kids. You kept me yes sixteen billion dollar BHP spin off announced today. -- you've been riding malice one home you basically street Louis had a bit of a down from his idea anyway he's -- -- -- -- Well I'm looking outfit today. All of three -- sic of whether if you weren't -- -- -- you want to express a commodity. And then went in which case you can probably say yes -- a little bit. But done because that's got a background this mangan knees -- cool condominium. Tom these will be spun off into this new company that's right and let's face it nickel and at a monument into the to the office and home prices and I'm pretty well yeah. A Nicholas looking like the best performing mental imagine it will also fun this year but element insulting to shabbily either up about 12%. They were very special thoughts as a work there and it's not clear whether they gonna sort of hold out. The one thing. And even if they do that may -- Russia all the ways to play if you wanna -- a -- -- play. The only thing we heard from PHP this morning on com columnist news spin off was certain you whose businesses have achieved in earnings margin. Of 21%. In the 2014 financially it would carry amenable to it. Mean that that doesn't sound. No and a round of missing sync their and its called for most of second quarter on in terms of -- and it's not -- Did that very strong businesses and our -- right that the management confirmed could especially around these differences once it's been spun off and they can focus on the court dismissal what they want to focus on most. So Sarah Jessica that could let that it was just if you want to look at this as a commodity playing. The hunt smoke the vehicle through which they. Also saw how would you look at it as if if you wanted to look at. If you -- commodity. He wants to invest in nickel he wants to -- an element -- how would you how should you do it. Get some people might just wanna go out by the metal so I'm thinking. And then there -- others who was specialist if you wanna pure commodity play on Nicol done that is I mean I'd say Russian but perhaps it's -- to invest in is not being too political issues. You could constitute a bomb about Indonesia. All you could do you know kind of fueled a felon and imminence of pure expression of the few all Bachmann told on you still got the company dividends of sexuality -- will be looking for as well. And -- brand and for his I would suspect of them to -- we had lost week. I'm BHP shares and down again today -- hopeful that some people saying it's a bit of action. To this but -- -- you have said in the costs. There is perhaps a concern this matters will be taken away from from the from the coal eccentric center I'm. It is sort of give a thumbs down ready for BHP and a bit of a thumbs -- and he goes well. Well -- ended the reaction today it's not -- surprising that it went out this much visited las Friday given the news was a reiteration so it might just be by the Reyna Silva thought let's come on it's. The results might have something to do it that also there is going to be no -- listing. For the -- -- As he got. Bullet. In which case it's not clear what will happen to good people in London who don't wanna hold -- -- with secondary listing or Australian primary listing. So many things that no doubt. I will cover this -- again a look at this one against drop pass and make from abroad is breaking news the pressure's on -- 12:30 -- 1730 bsc. -- -- -- --

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Breakingviews: BHP spin-off unappealing

Tuesday, August 19, 2014 - 03:38