Rio Pledges to Tackle Its $45 Billion Mountain of Borrowing

Evening Standard - London › April 24, 2008

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Summary

MINING giant Rio Tinto, the target of an unwanted $174 billion ([pounds]88 billion) takeover bid from rival BHP Billiton, today pledged to reduce its borrowing over the next two years.

Chairman Paul Skinner, speaking at the company's annual general meeting in Australia, said planned asset sales and strong cashflow will "draw our debt down to much more comfortable and traditional levels".

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Rio Pledges to Tackle Its $45 Billion Mountain of Borrowing

He added: "That should not be a matter of conc...

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