Shares of Freeport McMoRan (FCX) surged by 12.3% to US$4.2 Thursday (Jan 14) following news about offering of its 10.64% shares in PT Freeport Indonesia for US$1.7 billion to Indonesian government. This has lifted market value of FCX to US$5 billion. Should the government spend US$1.7 billion to acquire 34% shares of FCX instead? How about paying zero to get 100% shares like the acquisition of Mahakam Offshore Block?To subscribe please click here
