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Sinochem hires HSBC regarding Potash options - report

NEW YORK (Reuters) - China's Sinochem has hired HSBC <HSBA.L> bank to advise it on its options regarding Potash Corp <POT.TO>, the target of a $38.6 billion (25 billion pound) hostile bid from BHP Billiton, <BHP.AX> <BLT.L> the Wall Street Journal reported on its blog on Wednesday, citing a person familiar with the situation.The blog said that the state-owned company's move is preliminary and doesn't mean the Chinese company has decided to make a counterbid for Potash.

02 September 2010 04:10 GMT

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Potash has held discussions with Sinochem, a source close to the matter told Reuters in August.

HSBC was not immediately available for comment. An attempt to reach Sinochem's offices in Houston was unsuccessful.

(c) Reuters 2012. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.

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