Mike West spells out the argument well. Local funds who are crying foul about the deal were never prepared to support the shares. They were in fact cheering on the sidelines when the share price was falling hoping to get a rights issues at a much cheaper prices. At the end of the day, it is really a lot of self interest at work rather than true nationalistic pride and afterall RIO was only 35% Australian owned anyway.
rio reply to concerns, page-12
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Last
$115.87 |
Change
-0.040(0.03%) |
Mkt cap ! $43.01B | |||
| Open | High | Low | Value | Volume |
| $117.00 | $117.55 | $115.65 | $140.9M | 1.208M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12000 | $115.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $116.08 | 195 | 4 |
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| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| RIO (ASX) Chart |