Rio To Sell Packaging Operation For Boycotting BHP Stalk

Rio Tinto will sell its packaging operation worth 5 billion dollars to finance funds in boycotting rival BHP’s hostile bid. Source said Rio obtained the operation in July lat year, when acquiring Alcan. Rio set a goal of selling the potential operations totaled 15 billion dollars this year, including packaging business. Rio intended to sell the operation to traders, possibly American sealed Air Corporation, but failed. Morgan Stanley is the consultant on this program. Experts say Morgan Stanley may advice Rio splitting the operation to raise its attraction to private entities.