Congo Stake Sale May Make Glencore Even More Appealing to Rio Tinto -- Market Talk

Dow Jones
02/04

0153 GMT - The proposed sale of a stake in Glencore's Congo copper and cobalt assets would likely make the company "a more desirable acquisition target" to suitor Rio Tinto, Jefferies analysts say in a note. That is because a stake sale "would effectively reduce Glencore's geopolitical risk," Jefferies says. A deadline for Rio Tinto to make a formal offer for Glencore looms on Thursday. Jefferies expects an extension to be granted for talks, given any deal will be complex and both sides only recently hired advisors. Jefferies says it is "more likely than not" that a deal between the companies is announced this month, however. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)

 

(END) Dow Jones Newswires

February 03, 2026 20:53 ET (01:53 GMT)

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