Australian Government

Chinese companies mull Rio Tinto options

China has sanctioned state-owned companies to examine three possible strategies to block BHP Billiton's proposed takeover of mining giant Rio Tinto, a report said Monday. Strategies include forming a domestic consortium to bid for Rio Tinto, a joint bid by domestic and foreign firms, or purchasing Rio shares on the open market.

Chinese steelmaker wants Rio Tinto takeover stopped

China's largest steel company BaoSteel called on Friday on the Australian government to intervene to prevent BHP Billiton from taking over rival miner Rio Tinto. Rio Tinto has rejected an unsolicited three-for-one scrip offer from the world's biggest miner, saying it significantly undervalues its assets.

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