Rio Tinto Dismisses Talks of Merger

Australian Mining reported that Rio Tinto plc (ASX:RIO,LSE:RIO,NYSE:RIO) CEO Sam Walsh has dismissed talks of a merger with Glencore plc (LSE:GLEN).

As quoted in the market news:

Speaking at an event in London over the weekend, Walsh said not only would regulators block any merger move, but the idea was also being balked at by investors.

Rio Tinto CEO Sam Walsh stated:

Investors say ‘I don’t get it, why are you giving this any airtime because it actually isn’t going to happen.’

Part of the reason is value, part of the reason is anti-trust, the people who collect tax, and what have you, they are simply not going to let it happen.

Click here for the full Australian Mining report