Australia treasurer would block a Glencore-Rio Tinto merger
MELBOURNE, April 8 (Reuters) – Australia’s treasurer has told business representatives he would not allow Glencore Plc to merge with Rio Tinto due to concerns about losing tax revenue, a person familiar with his comments said on Wednesday.
Treasurer Joe Hockey said based on the tax implications he had seen from the treasury, he would not allow a Glencore takeover of Rio, Australia’s second biggest miner and one of its biggest taxpayers, the person said. He declined to be identified due to the sensitivity of the issue.
Read more at: http://www.reuters.com/article/2015/04/08/rio-tinto-glencore-australia-idUSL4N0X52AS20150408
