Rio Tinto recommends London shareholders vote against dual-listing review

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.

(By Sameer Manekar; Editing by Anil D’Silva)

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