Bloomberg Anywhere Login


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Rio Tinto, BHP Investors Seek Shares Buybacks, Telegraph Says

Jan. 30 (Bloomberg) -- Rio Tinto Group and BHP Billiton Ltd. have been contacted by institutional investors demanding the companies abandon plans for future acquisitions and instead return cash through share buybacks, the Sunday Telegraph said.

The shareholders, who have written individually rather than collectively, have asked for commitments from the mining giants that they use their strong balance sheets to buy back “multibillion pounds” worth of shares, the newspaper said.

The investors have moved to preempt another round of acquisitions in the mining industry following BHP’s failed $39 billion attempt to buy Canada’s Potash Corporation of Saskatchewan Inc., according to the newspaper.

BHP Billiton said Nov. 15 it will purchase $4.2 billion of its shares, company spokesman Ruban Yogarajah said in a telephone interview today. “We already have an active program of returning cash under way,” Yogarajah said.

To contact the reporter on this story: Keith Jenkins in London at

To contact the editor responsible for this story: Daniel Tilles at

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.