India''s biggest aluminium maker, Hindalco, and Sterlite
Industries, are in talks with global firms to separately
bid for Canada''s Alcan, newspaper reports cited unnamed
reports said Sterlite''s parent Vedanta Resources Plc was
in advanced talks with global miner Rio Tinto to form
a special purpose vehicle to bid for the aluminium major.
Vedanta will likely invest $3-4 billion and Rio Tinto
could put in $10-12 billion in the joint venture, the
Industries Ltd., which earlier this year bought Canadian
aluminium firm Novelis for $5.9 billion, was also rumoured
to be in
talks with BHP Billiton for a joint bid, the paper said.
refused to comment on speculative reports.
said Rio Tinto and Norwegian aluminium group Norsk Hydro
might place separate bids to trump Alcoa''s $28.5 billion
hostile bid for Alcan.