Rio Tinto CEO: Australia Likely To OK Chinalco Deal - Report
March 26 2009 - 9:48PM
Dow Jones News
Rio Tinto Ltd. (RTP) shareholders and the Australian government
are likely to approve the proposed $19.5 billion investment in the
company by Aluminum Corp. of China, or Chinalco, the China Daily
reported Friday, citing Rio Tinto Chief Executive Tom Albanese.
"I am quite confident that all of the pieces will progressively
work through over the coming months. We will of course have
regulator approval, and we will have shareholder approval as well,"
the paper quoted Albanese as saying.
The paper also cited Albanese as saying that the deal wouldn't
affect the ongoing negotiations between Chinese steel mills and
iron ore suppliers, including Rio Tinto, for setting annual iron
ore prices.
-By Aaron Back, Dow Jones Newswires; (8610) 6588-5848;
aaron.back@dowjones.com