Profit

ICVL will not counter Rio's bid for Riversdale‎

PUBLISHED ON: January 27, 2011 | Duration: 2 min, 21 sec

  
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International Coal Ventures, a group of Indian state-run metals and energy companies, has decided against buying Australian miner Riversdale. The board members were anyway divided over whether to bid, though CitiGroup had advised the group to make counter offer for the firm, to top the bid by Rio Tinto.
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