Indians go cool on Riversdale

A MAJOR potential rival for Rio Tinto’s $3.9 billion cash offer for African coking coal group Riversdale Mining is out of contention with Indian industry consortium International Coal Ventures deciding not to issue a counter-bid.

Indians go cool on Riversdale Indians go cool on Riversdale Indians go cool on Riversdale Indians go cool on Riversdale Indians go cool on Riversdale

AThe effect on Riversdale’s share price was immediate, sinking by 2.2% this morning to $15.88 and below Rio’s $16 per share offer.

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