views

RIO CHAIRMAN SET FOR INVESTOR TALKS

NEW Rio Tinto chairman Jan du Plessis will meet key shareholders today, as pressure builds on the indebted miner to change its controversial $19.5bn (&pound;13bn) tie-up with Chinese state-owned Chinalco, in favour of a rights issue.<br /><br />Du Plessis has already held meetings with a number of shareholders this week and has said he is prepared to listen to objections to the deal, which investors say rides roughshod over their pre-emption rights.<br /><br />The firm, which is also listed in London, saw its Sydney shares close down 11 per cent at A$57.90 (&pound;28.89) last night, their biggest one-day fall since last December.<br /><br />The deal also still needs to be approved by Australia&rsquo;s Foreign Investment Review Board.