LONDON: China teamed up with US aluminium producer Alcoa to buy a 12% stake in Rio Tinto yesterday and said it may make a bid, threatening miner BHP Billiton's efforts to win Rio.
The US$14bil move by state-owned Aluminum Corp of China (Chinalco), the country's biggest ever investment overseas, comes days before a regulatory deadline on Wednesday for BHP to make a firm offer for Rio or walk away.
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