This article from todays HeraldSun:
CHINA'S largest steel producer, Baosteel Group, is reportedly preparing to launch a bid for Rio Tinto.
"We are considering it, and the chance of putting forward a bid is very high," the 21st Century Business Herald said, citing Xu Lejiang, chairman of Baosteel.
Mr Xu told the newspaper that the bid plan was still under study and the company had not signed any agreement with Rio.
Last month, Rio Tinto rebuffed BHP Billiton's proposal to merge the world's third biggest and largest miners respectively, to create a $US350 billion ($A398.57 billion) behemoth, saying it did not reflect the group's real value.
Full report in BusinessDaily tomorrow (5/12/07)
It will be an interesting day today...
chinas baosteel may bid for rio tinto
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