The News Release has nothing to do with the Chinese Holidays. Why the holidays seem to be coming into play is that the people who have to OK the deal and obtain the letters from VZ may not be at work even though the stock market is open.

IMHO we will get the news release when CRRC/CREC and Kry have received the:

(a) the appropriate approval authority within the Government of Venezuela and CVG shall each have approved, in writing, in a form satisfactory to each of the parties, acting reasonably, the assignment of the MOC to JV Subco or alternatively, to allow for the assignment of a two-thirds interest in the MOC to CRRC or its designated affiliate;

Point (b) deals with the permit but I can't see VZ giving the permit to anyone until the deal is A&F Agreement has been voted on. We know the JV has been set up but don't know the name or country.

Once the letter approving the transfer of the MOC is complete (might already be done) the Chinese will give the deal the go ahead. At this point Kry will send out the mailings for our vote. 20-25 days later we have an agreement and China will receive the permit for the new JV. I still beleive the actual permit itself won't be issued until Hugo goes to China.

Guessing at the timing of a completed deal is an impossible task to get right. I will however stand by my fortune cookie that says Oct. 15th will be the date we get news.