Major Chinese Shareholder Set to Back Rio Tinto-Glencore Merger ...Middle East

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Major Chinese Shareholder Set to Back Rio Tinto-Glencore Merger
source : OILPRICE ( Middle East ) () 41
Aluminum Corporation of China, a major shareholder in Rio Tinto, is set to support the mining giant’s potential takeover of Glencore, as it would give the Chinese firm additional exposure to copper supply, sources with knowledge of the matter told Bloomberg on Monday.   Aluminum Corporation of China, also known as Chinalco, holds 14.55% of Rio Tinto’s London-listed shares, and any potential deal would need the approval of both the key Chinese shareholder and the Chinese authorities.  Rio Tinto Group and Glencore Plc earlier…

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