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Blackstone Denies Rio Tinto Bid Speculation
Topics:China | Mergers & Acquisitions
Sectors:Basic Resources
Companies:The Blackstone Group | Rio Tinto Plc | BHP Billiton Limited
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Private equity firm Blackstone Group on Monday denied speculation that it is planning a counterbid for Rio Tinto with a consortium believed to include China's sovereign wealth fund.
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The speculation appeared in the British newspaper The Daily Telegraph.
"The Blackstone Group has consulted with the U.K. Takeover Panel and told them that there is no truth to this story," Blackstone said in a statement.
Blackstone [BX
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] said it is not involved in this transaction in either an investment or advisory role.
Rio Tinto has already rejected a proposed $140 billion three-for-one share takeover offer by rival miner BHP Billiton
Copyright 2009 Reuters. Click for restrictions.
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