Rio Tinto Deal Blows Up

Rio Tinto can say goodbye to its $19 billion equity and convertible bond deal with China Aluminium (Chinalco) at least in its present form. Opposition to it was already gathering nationalist momentum in Australia and shareholder momentum in London. Now China's rejection of Coca-Cola's bid for leading fruit juice maker, Hong Kong-listed Huiyuan will immeasurably strengthen the hand of those who claim that China expects investment access rights which it refuses to others.

Read →

Comments on this post are for paid subscribers