Alcoa Inc. and Aluminum Corp. of China announced Friday the joint purchase of 12 percent of London-listed Rio Tinto PLC's shares in a deal said to be worth US$14.05 billion (¤9.5 billion). The deal was the largest ever overseas investment by a Chinese company, Aluminum Corp. of China, the country's biggest aluminum maker, said in a statement. Alcoa said it contributed US$1.2 billion (¤810 million) to the total investment. Although the acquisition was of only a minority stake in Rio Tinto, it clearly appeared aimed at obstructing Anglo-Australian mining giant BHP Billiton Ltd.'s takeover bid for Rio Tinto, the Associated Press reported.
