Reuters reported that China Guangdong Nuclear Power is studying whether to come back in three months with a fresh bid for uranium miner Kalahari Minerals after withdrawing an offer following opposition from UK regulators.

Mr Liu Kaixin spokesman of CGNPC said that our business department is studying it. We don't have a result yet. Company withdrew its bid for Kalahari after Britain's Takeover Panel said it would not allow the Chinese company to lower its USD 1.2 billion offer.

Shares in Kalahari and its 43% owned Australian listed Extract Resources fell on the decision although some analysts said that they expected CGNPC could return with a fresh offer in the next three to 6 months or bid directly for Extract.

Mr Adam Schatzker analyst of RBC Capital Markets said that "We think there is a reasonable chance CGNPC will make a new bid for Kalahari after 3-6 months have elapsed, or CGNPC may be more direct and make a bid for Extract."

(Sourced from Reuters)