Rio Said to Be Considering Alternatives to Chinalco, FT Reports

April 28 (Bloomberg) --Rio Tinto Group, the world's No. 3 mining company, is still open to alternatives to a $19.5 billion fundraising agreement with Aluminum Corp. of China, the Financial Times reported, citing unidentified Rio investors and others involved in the matter. One fund manager, who takes the view that the agreement will have to ``evolve,'' said Rio's management is still describing Chinalco as an ``option,'' the newspaper said, adding that one alternative would be an arrangement with BHP Billiton Plc. The agreement with state-owned Chinalco, reached in February but still not definitive, involves Rio offering the Chinese company, already its biggest shareholder, an exclusive bond that would eventually double its stake to 18 percent, the FT said.