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Sovereign Wealth Funds Briefing - Categorized | Investment

Chinalco won’t sell Rio Tinto stake to China wealth fund

Posted on 08 January 2010

From Marketwatch.com: Aluminum Corp. of China, or Chinalco, is not considering selling its stake in mining giant Rio Tinto Ltd. to China’s sovereign wealth fund China Investment Corp. as has been reported, a person familiar with the situation said Friday.

Reuters has reported that CIC is weighing a bid for the 9.3% stake in the Rio Tinto group, held via a 12% stake in the London-listed stock of the dual listed company, which Chinalco acquired in 2008 when BHP Billiton Ltd. was making a takeover offer for its mining rival…………………………………….Full Article: Source


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