Australia Swan Denies Responsibility For Rio-Chinalco Deal End
June 04 2009 - 10:11PM
Dow Jones News
Australian Treasurer Wayne Swan Friday appeared to play down any
responsibility on behalf of the government for the collapse of a
deal between Rio Tinto Ltd. (RIO.AU) and Aluminum Corp. of China,
or Chinalco.
Asked if the drawn out foreign investment review process for the
deal had put the transaction at risk, Swan said: "I completely
reject that".
The end of the deal is "a commercial matter between the
partners", Swan told reporters.
"Australia welcomes foreign investment. It is very important for
this country and we welcome proposals from foreign countries
provided they are in the national interest," he said.
Swan also said that the government's Foreign Investment Review
Board hadn't reached a final decision on the transaction.
-By James Glynn, Dow Jones Newswires;
61-2-8272-4685; james.glynn@dowjones.com