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Steelmakers could thwart Rio

RIO Tinto's chances of gaining at least half of Riversdale Mining through its $A16 per share cash takeover offer are in strife as India's Tata Steel spent more than $100 million yesterday to increase its Riversdale stake to 27.14%.

Blair Price
Steelmakers could thwart Rio

Along with smaller purchases in the previous trading days, Tata increased its stake by 2.92%, while Brazilian steelmaker Cia Siderurgica Nacional spent more than $76 million to lift its stake by 1.29%...

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