state-owned Chinalco is widely expected to take up its full entitlement to new shares in global miner Rio Tinto's (RIO.AX: Quote) (RIO.L: Quote) $15.2 billion rights issue, the Financial Times newspaper reported on Tuesday. There has been uncertainty over Chinalco's intentions after indebted Rio ditched a deal with the Chinese group for a $19.5 billion capital injection in favour of the rights issue and an iron ore joint venture with BHP Billiton (BHP.AX: Quote) (BLT.L: Quote). By taking up its rights, Chinalco would be able to maintain its overall stake in Rio at about 9 percent. A Chinalco spokesman in Sydney declined to comment. A spokesman for Rio Tinto could not be immediately reached for comment.
|
| FAQ
