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Rio Tinto BHP Billiton deal in doubt

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Rio Tinto BHP Billiton deal in doubt

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Neither company would confirm it, but it looks like Rio Tinto will abandon a planned iron-ore joint venture with rival BHP Billiton.

An Australian newspaper said Rio Chairman Jan du Plessis had informed his fellow directors that BHP would not object to Rio ending the deal.

It was unpopular with customers, regulators and many of Rio Tinto’s own investors, even though it was supposed to bring billions in savings.