(Reuters) – Rio Tinto, the world’s largest iron ore producer, on Thursday recommended its shareholders in London to vote against a resolution requesting a review of its dual-listed structure.
“The board considers that the resolution is not in the best interests of Rio Tinto as a whole and has recommended that shareholders of Rio Tinto plc vote against the resolution,” the miner said.
Activist investor Palliser Capital and more than 100 other shareholders last year sought a resolution over a review of Rio Tinto’s dual-listed model, saying about $50 billion in shareholder value had already been lost due to the current setup.
(Reporting by Sameer Manekar in Bengaluru; Editing by Anil D’Silva)
