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Brazil Vale still plans asset sales despite Fortescue talks
March 9, 2016 / 8:03 AM / 2 years ago

Brazil Vale still plans asset sales despite Fortescue talks

SAO PAULO (Reuters) - Brazilian miner Vale SA (VALE5.SA) still plans to sell about $10 billion of assets in order to reduce debt, even after announcing it was in talks about potentially buying a minority stake in Australian rival Fortescue Metals Group (FMG.AX), a press representative told Reuters on Wednesday.

The logo of Fortescue Metals Group adorns their headquarters in Perth, Australia, November 11, 2015. The world's no.1 and no.4 iron ore miners are in talks that could see Brazil's Vale SA taking a minority stake in Australia-based Fortescue Metals Group and the blending of their iron ore to win market share in China. Picture taken November 11, 2015. REUTERS/David Gray - RTS9QM6

Reporting by Gustavo Bonato, writing by Stephen Eisenhammer; Editing by David Gregorio

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