(Reuters) - The $5 billion-plus auction of Australian coal miner New Hope Corp
has met more hurdles with a Korean consortium the latest to back out, two
sources with knowledge of the deal said on Wednesday, but New Hope said the sale
remained on track.
Bid deadlines for the sale, announced in October last year, also appeared to
be a moving target. Sources initially had indicated a February-end deadline for
bids but it now appears New Hope may be flexible.
The number of bidders for the Queensland-based coal producer was thinning,
said one of the sources. The sources declined to be named as they are not
authorised to speak to the media.
Reuters
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