French uranium group Areva said on Thursday it had acquired 10.46 percent of the stock in Australian uranium explorer Summit Resources Ltd. a week after Summit endorsed a full takeover by fellow Australian miner Paladin Resources Ltd.
Areva Australia Managing Director Phillipe Portello told Reuters Areva was ”simply protecting its position” in Summit a week after Summit cancelled a plan to sell the French group 18 percent of the company, saying it had no choice other than to accept Paladin’s offer.
