chinalco seeks return of rio stake from liquid

This is a bit worrying.

MELBOURNE (Dow Jones)--Aluminum Corp. Of China, or Chinalco, is in talks with the liquidators of Lehman Brothers in Hong Kong to retrieve its stake in the London-listed shares of Rio Tinto Ltd. (RTP), the Telegraph newspaper reported Thursday.

Without citing sources, the newspaper said the liquidator hasn't released the holding and could decide Chinalco ranks along with other creditors which, in a worst case scenario, could see Chinalco suffering a substantial loss on its holding.

Chinalco and Alcoa Inc (AA) together paid US$14.1 billion for a 12% of Rio Tinto's London-listed stock, giving them a 9% stake in the Rio Tinto group.


Newspaper Web site: http://www.telegraph.co.uk

-By Melbourne bureau; 61-2-8235-2950; [email protected]