Chinese Bank Denies Backing Rio Purchase – Business Report

From Business Report:

State policy lender China Development Bank on Wednesday denied reports that it is involved in the purchase of a stake in mining company Rio Tinto .

“There’s no matter like this,” Yang Hua, a spokeswoman at the Chinese policy bank said. The German daily newspaper Handelsblatt wrote in an advance copy of its Wednesday issue, citing unnamed sources at the Chinese bank, that China Development Bank was preparing the purchase of a stake in Rio Tinto on behalf of an unnamed Chinese company. [Full Text]