SYDNEY: Shares of BHP Billiton surged to a record high in Sydney and London yesterday, fuelled by speculation that a state-controlled Chinese firm was building a stake in the world’s biggest mining company.
Much of the speculation centred on giant Aluminium Corp of China (Chinalco), already the largest shareholder in Rio Tinto, which BHP is seeking to acquire in a hostile, US$177bil all share offer.
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