Analysts Predict Rio Tinto, BHP Pursuit of Diamond IPO

Globe and Mail reported analysts are predicting BHP Biliton (ASX:BHP) and Rio Tinto (ASX:RIO) may consider spinning off their diamond assets as private companies if buyers can’t be found.

As quoted in the market news:

The Sunday Times reported that the New York-based firm is in competition with at least two Canadian companies — Harry Winston Diamond Corp.(HW-T13.950.030.22%) andStornoway Diamond Corp.(SWY-T0.89—-%) to buy the assets and create the world’s third-largest diamond producer.

Click here to read the full Globe and Mail report.