Thursday, February 21, 2008

Rio Tinto/BHP Billiton: Competition concerns will be evaluated around iron ore, uranium and coaking coal - report

Competition concerns regarding the takeover bid by BHP Billiton for Rio Tinto would be evaluated around iron ore, uranium and coaking coal, the Sydney Morning Herald reported. The unsourced report in the paper's Xchange column said it was not yet certain that BHP would need to divest assets in order to gain regulatory approval. The article noted that Anglo American's chief executive, Cynthia Carroll, commented she could be keen on purchasing assets that would need to be sold by BHP/Rio to get competition regulator approval. The paper said NSW or Queensland-based coal mines and iron ore mines in the Pilbara were likely desired assets.
Rio Tinto’s market capitalisation currently stands at GBP 85.78bn.


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