Vale CEO: Xstrata Talks Could Restart Anytime

Vale's CEO Roger Agnelli made comments in regards to the recently fruitless acquisition talks with Xstrata at a press conference. Agnelli said, “Xstrata made all the strategic sense in the world for Vale, and Vale made all the strategic sense in the world for Xstrata - so we started dating." However, he called Glencore International AG, Xstrata's leading shareholder, one of the main obstacles that made completing a deal difficult. Continuing, Agnelli told investors at the conference, "At any moment, we could restart negotiations." but currently there are no talks underway between Vale, Xstrata and Glencore. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.