Blackstone Bid For Rio Tinto: Buyout or Bad Rumor?

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This morning the Telegraph reported that Blackstone was preparing an "audacious plan" to break up mining giant Rio Tinto. None of our usual sources has yet recovered from spending the weekend dressed as Santa Claus so we haven't been able to reach anyone on it. But DealBook, which has shown that its got some very good Blackstone sources in the past, has just reported that the story is "rubbish."
According to the Telegraph, Blackstone's bid is in the advanced planning stages. It is reaching out to a Chinese sovereign wealth fund and other possible partners and has appointed lawyers, spoken with bankers and got public relations folks on ready.
But DealBook calls bullshit on the entire story. We'd like to know what you think.

Blackstone plans audacious bid for Rio Tinto
[Telegraph]
Bad Rumor: Blackstone’s ‘Bid’ for Rio Tinto [New York Times]

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