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Chinese whispers give Rio a lift.
(From Guardian Unlimited)
Mining group Rio Tinto offered investors a crumb of comfort today while the rest of the FTSE 100 sagged.
Rio shares were up almost 7% after the company confirmed it was in talks with Chinese state-owned metals group Chinalco about potential investment.
Rio is trying to cut a debt pile of almost $40bn (GBP28.2bn) by $10bn (GBP7bn) by the end of this year.
It has outlined a range of options to do this, including issuing equity, cutting expenditure, reducing its staff levels and disposing of assets.
"In this regard, Rio Tinto confirms that it has held discussions with Chinalco regarding Chinalco acquiring …
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