Vale’s Agnelli Mum on Acquisition Possibilities

Vale’s Agnelli Mum on Acquisition Possibilities

People Corporate & Sovereign Strategy

Vale CEO Roger Agnelli dodged questions about a possible re-attempt at Swiss miner Xstrata during a conference call Friday. “The fact is we’re quiet. We’re just looking after our own house,” he says, as Vale prepares to face poorer economic conditions in 2009. Debt problems at Xstrata parent Glencore and a decline in Xstrata’s market value have led to speculation that it might be an opportune time for the Brazilian miner to try again for the unit. “Even with the current asset prices, it’s mo

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