The merger talks between the mining companies Rio Tinto and Glencore have collapsed.
Rio Tinto has come to the conclusion that no agreement can be reached that creates added value for its shareholders, the company said on Thursday. Glencore spoke of an undervaluation by Rio Tinto in the deal. Rio Tinto claimed too large a share of the company.
The Financial Times had previously reported that the deal was on the brink. Glencore had confirmed talks about a merger in January, with Britain’s Rio Tinto buying the Swiss company, as it was called at the time.
Glencore shares closed 7.03 percent lower at 4.75 pounds in London trading, while Rio Tinto shares fell 2.56 percent to 68.26 pounds.
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LONDON (dpa-AFX)
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