#26 RioTinto cancels Chinalco deal

On June 5th Australian-British mining giant RioTinto canceled a deal struck in February with state-owned Chinese Aluminum Corporation, also known as Chinalco. The deal would have raised Chinalco’s stake in RioTinto to more than 18 %. Based on fears of growing Chinese influence in the region, the deal had drawn public and political opposition in Australia. To this blog it is a good example how multinationals’ ability to extend their global reach are often limited by nationalistic reactions.

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