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Riversdale: Tata Steel mulls alternatives
NEW DELHI: Tata Steel, the largest shareholder in mining firm Riversdale, on Friday said it was looking at various options for the Australian entity which has already received Australian $3.9 billion bid from Rio Tinto.
Asked if the options include bidding solo, a Tata Steel spokesperson said: “We are looking at various options”, but did not elaborate.
International Coal Ventures Ltd (ICVL), a consortium of five Indian public sector companies, is also exploring the possibility of bidding for Riversdale. “Tata Steel notes the takeover bid for Riversdale mining announced by Rio Tinto. It will evaluate the takeover bid in the context of other alternatives available to Tata Steel,” the company said in a regulatory filing. When contacted, Tata Steel spokesperson Sanjay Choudhary told PTI, “There are many alternatives available with Tata Steel but at this point of time the company will not like to discuss it. It is studying the bid.” — PTI
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