Rio Tinto’s excessive $US44 billion purchase of Canadian company Alcan has pushed debt so high that potential asset sales are being identified to help pay back the banks. A de-merger of the Australian iron-ore business would be the best way to go, writes Stephen Mayne.
Afl president
Time for Rio Tinto to call Australia home
Today’s Rio Tinto EGM approved one of three largest cash bids in corporate history — the $US44 billion Alcan takeover — but the deal will see the world’s second biggest mining company become even less Australian.
