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Rio Tinto Shares Drop On Reports Chinalco Deal Off
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RIO
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JANE WARDELL
LONDON (AP) — Rio Tinto PLC said Thursday it is "pursuing a range of options" to shore up its debt-laden balance sheet amid growing speculation that the Anglo-Australian mining company is going to walk away from a $19.5 billion deal with China's Chinalco.
Shares in Rio Tinto dropped 7 percent in London trade on the reports that Rio Tinto could instead launch a multibillion dollar rights issue to solve its debt problems and potentially restart talks with rival and former suitor BHP Billiton.
Other reports suggested that Chinalco could be the driving force behind calling off the deal. ...
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