Rio Tinto China Whirling 400 000 000 000
Rio Tinto use "Pianhun" in sales of aluminum and iron ore to the Chinese benefit
from nearly 400 billion yuan, but the door to breach the door and spy Rio Tinto take a goodwill impairment cost over 100 billion yuan from the capital market investors are voting with their feet, entered in July since the Rio Tinto value shrank 30%. Australian iron ore company
The last iron ore from China to get more than 60 billion yuan sales revenue, and the clever use of aluminum in funding the acquisition to resolve a debt crisis, achieved more than 302.1 billion yuan of market value income, capital increase again from Rio Tinto Aluminium was 10.2 billion in cash, by Rio Tinto to benefit the Chinese market has almost 400 billion yuan. However, Rio Tinto are still not satisfied with the proceeds obtained from China, first burning bridges, unilaterally tore up the contract with the aluminum, after vigorously espionage, sabotage China's iron and steel enterprises in iron ore negotiations.
Investors voted with their feet Rio Tinto over the loss of goodwill 100 000 000 000
Early as Rio Tinto unilaterally tore up the contract option to their "allies"?? In the aluminum group kicked out of Office, this long-established Australian iron ore companies have appeared in commercial transactions, sensitive and specific cunning, especially in trade with China, while the spy gate this incident is even more to the superlative.
Obviously, just subscribed for shares in Rio Tinto Aluminium, the Rio Tinto often burst out of the "unexpected" event to the already burdened with huge public pressure of aluminum is also staggering.
When Rio Tinto "spy gate" erupted after the first time in Australia, Senator Joyce, "The Wall Street Journal," said Rio Tinto's Shanghai office of four employees were detained and the matter with Rio Tinto Aluminium Union, the transaction fails, attempt to the "spy gate" after the failure attributed to the acquisition of Al may seek revenge.
"Even though Rio Tinto Aluminum in the acquisition of the failure, but Rio Tinto Aluminum is still the single largest shareholder of the company, will be detained in the Shanghai office staff and say that of aluminum and related aluminum apparently not taken into account interest, because this view is likely to lead to stock price plummeted, to bring more of aluminum in the Fukui investment. "a state of anonymity, iron and steel enterprises to invest in people so that to this reporter.
Door with breach of contract and the "spy gate" of the burst, Rio Tinto is facing a huge loss of goodwill and the market outlook in China is no longer favorable for investors, the two shares are different degrees of collapse, as of July 17, Rio Tinto Australia and the UK company's share price high of 77 respectively from the Australian / shares and 31.18 / share dropped to 52 today Australian / shares and 20.8 pounds / share, recorded a decrease of more than 30%, of which, UK If the market value of the total share capital in accordance with pre-placement of shares calculated, then compared to the peak of 41.4 billion pounds, has shrunk by 30%, more than 100 billion yuan of direct loss of goodwill
Nearly 400 billion Rio Tinto whirling
Largest shareholders tens of billions of Fukui
Reporter noted that in February this year when Rio Tinto's most difficult occasion, the first time lend a helping hand in the aluminum, to 19.5 billion U.S. dollars of the astronomical funding the acquisition, Rio Tinto not only life and death have been basically solved the financial crisis line, and from the secondary market at high profit.
According to "China Times" reporter's statistics, announced after the introduction of huge sums of aluminum, Rio Tinto's share price once the Australian dollar from 32 / share jumped to 77 Australian dollars / share, while the British company Rio Tinto market as early as the beginning of this year were even as low as 14.45 billion pounds, while that of aluminum 19.5 billion capital injection news, share prices soared, rising to 31.16 / share, market value of up to 41.44 billion pounds, so floating Rio Tinto surplus reached 27 billion pounds, about 302.1 billion yuan.
In addition, the reporter noted that Rio Tinto 2008 annual report, the company earnings as much as 103 billion U.S. dollars, an increase of 38% in 2007, and in that year China's imports of 183 million tons of iron ore in , Rio Tinto accounted for 83.38 million tons, according to a long association mining last year, the FOB about 700 yuan / ton basis, then the last year alone, Rio Tinto paid heed to the Chinese market swept away more than 60 billion yuan.
Rio Tinto in aluminum company has sufficient funds to prepare well after the unilateral breach of contract, staged a scene in "inconsistent" show, in July announced the placement of shares, according to Rio Tinto's allotment program, every 40 shares to be allotted 21 shares, then the total 15.2 billion U.S. dollars of new shares in order to protect the original aluminum stake requires subscription 1.5 billion; alone, it easily from aluminum and then get 10.2 billion yuan in cash.
National Securities analyst LUO Jin told reporters: "In fact, for aluminum, since the beginning, bought at a high point, so this can be a jiacang subscription, that is diluted the original price, not be obtained in aluminum and other interests. "In his view, even count the placement of shares, shares of aluminum cost only from 59 / share reduced to 44 / share, compared to the current (as of 7 17) 20.8 pounds / stock price, still Fukui close to 4.38 billion pounds, about 49 billion yuan.
Rio Tinto China Whirling 400 000 000 000
By: blairzhang
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