Companies
Chinalco won't buy into BHP
Font Scale: 
Posted 02 September 2008 @ 09:32 am GMT
Chinalco is still pondering BHP Billiton's takeover bid for Anglo-Australian miner Rio Tinto and is not decided whether to accept or reject the offer, but stressed on Tuesday it will not seek to buy into BHP.
REUTERS/Mick Tsikas
Article Tags 
bhp bid billiton chinalco rio tinto
Analysts say BHP may have to sweeten Rio againThe world's No. 3 alumina producer however plans to increase its stake in Rio if the right opportunity arises, though company President Xiao Yaqing reaffirmed it had not decided on such a move.
"I've got money in my pocket. The question is when's the proper time to buy," company president Xiao Yaqing told reporters in Hong Kong on Tuesday.
(Reporting by Alison Leung, writing by Edwin Chan, editing by Tom Miles)
Copyright 2008 Reuters. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Most Popular Stories
Top Stories on Companies
- 1 RBS gets Chinese approval for Suzhou stake
- 2 BT cutting 10,000 jobs as part of costs drive
- 3 Kingfisher to double Polish arm as migrants return
- 4 UBS says infrastructure fund raises $1.5 billion
- 5 Lloyds TSB could face rival bid for HBOS
- 6 Ryanair earnings down 47 percent
- 7 John Lewis weekly store sales down 9.8 pct
|
|
