0743 GMT - A merger between Glencore and Rio Tinto seems like a strange strategic move given their limited cross-over and differing strategies, analysts at MKP Advisors write after a Bloomberg report saying the companies have discussed combining their businesses. It would be especially hard for Rio Tinto to sell the deal to its shareholders given it would contradict all of their previous messaging to investors, they write. Rio Tinto has exited from it its coal assets while Glencore has doubled down, and it is a struggle to see how the two companies are compatible, the analysts write. Rio Tinto fell 0.7% in Sydney to A$118.74 while in London Glencore closed Thursday at 370.05 pence. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
January 17, 2025 02:44 ET (07:44 GMT)
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