Investors have written to BHP Billiton and Rio Tinto to say the miners should ditch ambitions for mega deals in favour of multi-billion pound share buyback schemes, The Sunday Telegraph reported.
The newspaper said shareholders, which it did not name, have asked for commitments from the group’s boards that they use their strong balance sheets to return cash to investors.
See http://www.miningweekly.com/article/bhp-rio-tinto-investors-want-cash-not-deals-report-2011-01-31.