RioTinto programme deferment may strengthen BHP's hand

摘要

RioTinto's deferment of its 10 billion dollars asset divestment programme could strengthen BHP Billiton's 86 billion dollars takeover proposal, marketsources said. RioTinto had planned to sell its Engineered Products and Packaging units in 2008 to help pay off a portion of nearly 40 billion dollars of debt accrued through lastyear's acquisition of aluminium producerAlcan. "We have not reviewed the target amount: we have simply reviewed the timetable," Guy Elliott, Rio Tinto's cfo, said in a conference call. "This is nothing morethan recognising the liquidity challenge that our buyers are facing."