Markets: Rio’s Canadian problem

A report that prospective buyers have withdrawn their interest in Rio Tinto's Canadian iron ore stake must be a concern for the company's divestment-focused chief.

Rio Tinto’s asset disposal program has hit a bump – a very large one if a report from Reuters is accurate. The news agency says private equity firms Apollo and Blackstone and the world’s biggest commodities trader, Glencore, have pulled out of the bidding for Rio’s 59 per cent stake in the Iron Ore Company of Canada.

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