/ 25 July 2000

IS (WIN)SPEAR MIGHTIER THAN DE BEERS?

WINSPEAR Diamonds, in its latest attempt to block an unsolicited takeover bid by De Beers, is challenging in court ”certain deficiencies” in the South African company’s C$259 million cash offer. Winspear appeared to be seeking more time in its battle against De Beers, the world’s biggest diamond company, and advised shareholders not to make any decision on the offer until the outcome of a hearing on Monday before the British Columbia Supreme Court is known.- Reuters