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Rio hits snag on Turquoise Hill acquisition

Rio Tinto’s bid to complete a takeover of Turquoise Hill Resources has hit another snag with a Canadian regulator opting to take a closer look at a deal done with the most vocal of the dissenting shareholders.

The intervention of the body responsible for financial regulation in Quebec has forced the postponement of a shareholder vote to decide the fate of the $US3.3 billion ($5.1 billion) deal aimed at simplifying the ownership structure of Mongolia’s Oyu Tolgoi copper mine.

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Brad Thompson writes across business and politics from Western Australia for The Australian Financial Review. Brad is based in our Perth bureau. Connect with Brad on Twitter. Email Brad at brad.thompson@afr.com

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    Original URL: https://www.afr.com/companies/mining/rio-hits-snag-on-turquoise-hill-acquisition-20221108-p5bwhq