Friday, February 1, 2008

China takes stake in Rio, threatens BHP bid plan (Reuters)



A haul truck is loaded with iron ore at a Rio Tinto mine in Western Australia. China has muscled in on miner BHP Billiton's attempts to buy rival Rio Tinto, with its biggest aluminum producer teaming up with U.S. group Alcoa to buy a 12 percent stake in Rio. (Rio Tinto/Handout/Reuters)Reuters - China teamed up with U.S.
aluminium producer Alcoa to buy a $14 billion stake in
Rio Tinto on Friday and said it may make a bid,
threatening miner BHP Billiton's efforts to win Rio.




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