Brazilian mining giant Vale has taken a decisive step towards a bid for rival Xstrata by lining up a $50 billion financing-package.
Fabio Barbosa, Vale’s finance chief, flew to London last week and met up to 12 banks. HSBC is leading a consortium thought to include Santander, BNP-Paribas, Lehman-Brothers, Credit-Suisse and Citigroup.
Via The Times
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