Not sure if I have already mentioned that here, but my latest and the greatest speculation:

C-O will go private. Reasoning: Ganfeng already owns 51% of it, JEMSE another 8% and there is those 15% Ganfeng owns directly in LAC.

Without trying to be exact, there is about strong 70%+ ownership, which will be diluted a bit by Arena. Should Gangfeng be able to get some loan for that or get a partner, no need to keep that entity private. 

The goal is to get T-P "china free".