China coal giant awaits Rio Tinto's response to Glencore's rival offer
Tue, Jun 13, 2017 - 5:50 AM
Glencore's bid for Rio Tinto's coal assets comes as Mr Glasenberg steps up expansion efforts following a painful commodities downturn in which it was forced to sell assets and cut costs.
CHINA'S Yanzhou Coal Mining Co is holding fire on a counter-offer for Rio Tinto Group's Australian coal assets as it waits to hear whether Glencore Plc has succeeded in trumping the deal it struck six months ago.
Glencore chief executive officer Ivan Glasenberg has...