Irish companies lock horns over diamond mines in Botswana

African Diamonds is preparing its corporate defences against an anticipated takeover attempt by the back door from Firestone Diamonds, a rival Irish-controlled resources company.

31st December, 2005

African Diamonds is preparing its corporate defences against an anticipated takeover attempt by the back door from Firestone Diamonds, a rival Irish-controlled resources company. The battle centres on potentially lucrative interests owned by African Diamonds in diamond mines in the southern African state of Botswana.

According to market sources, Firestone has approached institutional shareholders in London to canvass their support ahead of an annual shareholders' meeting at African Diamonds, scheduled to take place later this...

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